USD/JPY bounces off 134.50

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Since Wednesday's afternoon up to the middle of Thursday's trading, the USD/JPY currency pair was testing the resistance of the 134.50 mark and the weekly simple pivot point at 134.39. By 13:00 GMT, the rate was reached by the 200-hour simple moving average, which acted as resistance. The event was followed by a decline, which pierced the support of the 133.50 level.

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Hourly Chart
In the case of a decline of the USD/JPY pair below the 133.50 level, the rate might find support in the 133.00 level, the 100-hour simple moving average near 132.80 and the 132.50 level. Further below, take into account the 132.00 and 131.50 levels.

On the other hand, a recovery of the US Dollar is expected to encounter resistance in the weekly simple pivot point at 134.39, the 200-hour simple moving average and the 134.50 level.

USD/JPY daily chart's review

On the daily candle chart, the rate has shortly reached below the combination of a high and low level zone at 131.25/132.00 and the 100-day simple moving average. Further below, note the May low level range at 126.40/126.95.

Daily chart




Traders are short

On Thursday, on the Swiss Foreign Exchange, traders were 72% short as that amount of open position volume was in short positions.

Meanwhile, trader set up pending orders in the 100-pip range around the rate were 71% to sell the USD against the JPY.

On Wednesday, open positions were 72% short and pending orders were 63% to buy.

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