USD/JPY surge reaches above 126.00

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


The surge of the USD/JPY continues on, as the Japanese Yen continues to extend broad losses. On Wednesday morning, the pair surged and shortly pierced the 126.15 level, where the weekly R2 simple pivot point was located at. Afterwards, a retracement down occurred, which revealed the precise lower border of the support and resistance zone at 125.63/125.76.

In the case that the rate passes below the 125.63/125.76 zone, the USD/JPY might look for support in the 50-hour simple moving average near 125.50 and the weekly R2 simple pivot point at 125.22. In the meantime, take into account the approaching support line near 125.20.

However, a continuation of the surge of the US Dollar, compared to the Japanese Yen, might encounter resistance in the 126.50 and 127.00 levels. Prior to reaching new high levels, note the weekly R2 simple pivot point at 126.15.
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