USD/JPY recovers above 138.50

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Source: Dukascopy Bank SA


During the early hours of Thursday's European trading, the USD/JPY currency pair reached above the 138.50 mark, as it continued its recovery that was started on Tuesday.

The next target for the recovery might be the 139.00 level. Above the round exchange rate level note the 2022 high level zone at 139.35/139.38.

However, a possible decline of the US Dollar against the Japanese Yen might look for support in the 138.50 level. Further below, take into account the simple moving averages at 137.90 up to 138.20 and the weekly simple pivot point at 137.90.
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