HomeContributorsTechnical AnalysisUSD/JPY Remains Below Monthly PP

USD/JPY Remains Below Monthly PP

On Friday, the USD/JPY currency pair raised to the 106.00 level. During today’s morning, the pair was trading near the given level.

It is likely that the exchange rate could remain under pressure of the monthly PP at 106.09 and reverse south from the short run. In this case the rate could gain support from the 55-, 100– and 200-hour SMAs in the 105.50/105.70 area.

If the given moving averages hold, it is likely that the currency pair could trade sideways. Otherwise, the pair could decline to the weekly S1 at 105.33.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Featured Analysis

Learn Forex Trading