USD/JPY waits at 135.00

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Source: Dukascopy Bank SA


The USD/JPY has been fluctuating around the 135.00 mark since late Friday. The rate has revealed resistance zones at 135.10/135.35 and support at 134.60/134.70. Meanwhile, the rate has been ignoring the 50, 100 and 200-hour simple moving averages. In general, the sideways trading is explained with the markets waiting for Wednesday's US Consumer Price Index data.

A move below 134.60 would look for support in the 134.00 and 133.50 levels, before approaching the cluster of support levels near 132.00.

In the case of a surge above 135.35, the pair might encounter resistance at 136.00, 136.50 and the 137.00 level, prior to testing the weekly R1 simple pivot point at 137.20.
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