USD/JPY fails to reach 139.00

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


On Thursday, the US Dollar failed to reach the resistance of the 139.00 mark. At mid-day, the pair started a decline, which by midnight had reached the 137.00 level. The 137.00 level acted as support and caused a surge. During the early hours of Friday's trading, the pair had reached a cluster of resistance levels at 138.00. The cluster was made up of the weekly simple pivot point at 137.90, the 50, 100 and 200-hour simple moving averages in the 138.00/138.05 range.

If the resistance levels at 138.00 hold, the pair might decline and once again look for support in the 137.00 level. Further below, note the early July high and low level zone near 136.50 and the weekly S1 simple pivot point at 136.42.

However, a move above the 138.00 mark might encounter minor resistance in the 138.50 level, prior to approaching the 139.00 level and the July high levels at 139.35/139.38.
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