USD/JPY bounces off 127.50

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


On Thursday morning, the USD/JPY had failed at its second attempt at passing the 127.50 level and a resistance zone, which surrounds it, as the head of the Bank of Japan Haruhiko Kuroda commented on monetary policy and caused a surge of the Japanese Yen.

The Governor of the Bank of Japan stated that the Japanese central bank could execute a smooth exit from the current ultra-easy monetary policy. The statement caused an immediate surge of the value of the Japanese Yen.

The USD/JPY currency exchange rate adjusted to the new fundamental information with an immediate drop down of 45 pips or 0.36%. Afterwards, the decline extended to 63 base points or 0.50%.

From a technical analysis perspective, the move passed the support of the 50-hour simple moving average and hit the support of the weekly S1 simple pivot point at 126.60. If the pair passes below the pivot point, the May 24 low level zone at 126.37/126.50 is expected to act as support. On the other hand, a potential recovery of the US Dollar against the Yen is expected to face resistance in the combination of the 50-hour SMA and the 127.00 level, before reaching the 100-hour SMA near 127.40 and the 127.50/127.60 range.
Back to articles

Actual Topics

Thu, 26 May 2022 08:49:55 GMT

Gold breaks ascending pattern

Despite initially holding, the lower trend line of the post May 16 channel up pattern failed to provide enough support on Thursday morning. By the middle of the day's European trading hours, the price for gold had not only passed below the trend line, but also confirmed it as resistance. The trend line was acting as resistance together with the

Thu, 26 May 2022 08:05:05 GMT

GBP/USD breaks out to the upside

The GBP/USD ended its sideways trading by breaking the resistance zone at 1.2555/1.2560. Afterwards, the pair tested the resistance of the May high level zone at 1.2600/1.2640. By the middle of Thursday's European trading hours, the pair had returned to the 1.2555/1.2560 level and appeared to be confirming it as support. If the pair declines below 1.2555 and 1.2550, the 50

Subscribe to "Fundamental Analysis" feed

Suscribir
Para conocer más sobre la plataforma de Trading de CFD y Forex de Dukascopy Bank, SWFX y otras informaciones relacionadas con el Trading,
llámenos o haga una solicitud de devolución de llamada.
Para obtener más información sobre la posible cooperación, por favor llámenos o haga una solicitud de devolución de llamada.
Para obtener más información sobre las opciones binarias de Dukascopy Bank / La plataforma de operaciones de Forex, SWFX y otra información relacionada con el Trading, por favor llámenos o solicite una devolución de llamada.
Para conocer más sobre la plataforma de Trading de CFD y Forex de Dukascopy Bank, SWFX y otras informaciones relacionadas con el Trading,
llámenos o haga una solicitud de devolución de llamada.
Para obtener más información acerca de la plataforma de operaciones Crypto Trading / CFD / Forex, SWFX y otra información relacionada con el comercio,
llámenos o realice una solicitud de devolución de llamada.
Para obtener más información sobre Business Introducer y otra información relacionada con el comercio,
llámenos o realice una solicitud de devolución de llamada.
Para obtener más información sobre la posible cooperación, por favor llámenos o haga una solicitud de devolución de llamada.