USD/JPY recovers from 126.50

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


On Tuesday, the decline of the USD/JPY pair found support in the 126.50 level. Namely, support was provided by the 126.37/126.50 zone. By the start of Wednesday's US trading hours, the pair had reached the 50-hour simple moving average, which acted as resistance. However, at 14:30 GMT, the pair broke the resistance and started a surge.

If the pair continues to surge, resistance might be encountered in the 100-hour simple moving average and the 127.50 level. A move higher is highly likely going to reach for the 128.00 level and the resistance levels near 128.20.

In the case of a decline, the rate would once again look for support in the 126.37/126.50 zone. Further below, take into account the 126.00 and 126.50 levels and the weekly S2 simple pivot point at 125.44.
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