USD/JPY reaches above 110.20

Note: This section contains information in English only.
Source: Dukascopy Bank SA


During late Thursday's trading hours, the USD/JPY reached above the resistance of the zone just below the 110.00 level and the 110.20 mark. After passing the resistance levels, the rate began to consolidate by trading sideways.

At mid-day on Friday, the consolidation ended, as the pair dropped at 12:30 GMT. At that time the US monthly employment data sets were released and revealed that less than expected US citizens found jobs in May.

The US employment data drop was stopped by the combination of the 100-hour simple moving average and the supporting line of May 25, June 1 and June 3.

If the support of the trend line and the 100-hour SMA hold, the rate could most likely surge. A potential surge would most likely test the previously passed resistances of the 55-hour SMA, the 110.00 level and the 110.20 mark.

On the other hand, a decline below the 100-hour SMA and the support trend line would most likely result in the USD/JPY reaching the 200-hour simple moving average and the weekly simple pivot point at 109.56. In the case of the 109.56 level being passed, the pair could reach for the June low level at 109.35.
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