USD/JPY finds support in moving average

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


The USD/JPY eventually passed below the support zone at 137.70/137.90. However, support was almost immediately found in the combination of the 137.50 level and the 200-hour simple moving average. The event resulted in a recovery above 138.00. During the early hours of Wednesday's trading hours, the pair was fluctuating between the weekly simple pivot point at 137.90 and the resistance of the 100-hour simple moving average near 138.40.

In the case of a USD surge against the Japanese Yen, the rate would have to pass the 100-hour simple moving average near 138.40 and the 138.50 level. Higher above, note recent high levels, which might act as resistance.

On the other hand, a decline of the USD would have to decline below the weekly simple pivot point at 137.90 and the 200-hour simple moving average near 137.65, prior to approaching the 137.50 and 137.00 levels.
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