USD/JPY tests January high level

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


At mid-day on Tuesday, the USD/JPY currency exchange rate was testing the resistance of the January high level zone at 115.68/115.71. The rate failed to pass this zone during the late trading hours of Monday.

If the rate passes above the 115.68/115.71 zone, the pair would face no resistance as high as the February high level zone at 116.25/116.35 and the weekly R1 simple pivot point at 116.27. However, take into account that the round exchange rate level of 116.00 might act as resistance.

Meanwhile, a potential decline could decline to the 115.00 mark and the support zone above it, which reversed two declines during early Monday's trading. In the meantime, note that the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point, despite being previously ignored, could start to provide support.
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