USD/JPY remains near 136.50

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


During the second part of Wednesday's trading, the USD/JPY failed to reach the 137.45/137.70 range, as it bounced off the 137.20 level and started a decline. On Thursday morning, the pair was located near the 136.50 level. In general, the situation remains unchanged, as the markets expect news from the central banker symposium in Jackson Hole Wyoming.

If the US Dollar continues to decline against the Japanese Yen, the currency pair might look for support in the136.00 mark, before approaching the weekly simple pivot point at 135.55, the 135.50 mark and the zone that marks previous August high levels at 135.35/135.55. In addition, the zone was recently crossed by the 200-hour simple moving average near 135.70.

However, a recovery of the rate might face resistance in the combination of the 50 and 100-hour simple moving averages and the 137.00 mark, prior to the rate reaching back up to the 137.45/137.70 range. Meanwhile, note that the 137.20 level might once again act as resistance.
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