The USD/JPY dipped to the 109.42 level on Tuesday. With it, the pair confirmed that there is a support zone in the 109.42/109.49 zone. Meanwhile, the recent August high levels have been marked to reveal a resistance zone at 110.15/110.23.
In addition, the currency exchange rate continues to ignore the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point at 109.72.
A potential surge would have to pass the 110.15/110.23 zone before reaching the weekly R1 simple pivot point at 110.32. On the other hand, a decline below the 110.15/110.23 zone could look for support in the weekly S1 simple pivot point at 109.21.
