Sat, Nov 28, 2020 @ 16:02 GMT
Home Contributors Technical Analysis USD/JPY Analysis: Trades At 104.20

USD/JPY Analysis: Trades At 104.20

The USD/JPY currency pair has tumbled to the psychological level at 104.20.

It is likely that the exchange rate could gain support from the weekly and monthly S1s at 104.13, and trade upwards in the short run. Meanwhile, it is unlikely that the rate could exceed the resistance formed by the 55– and 100-hour SMAs near 104.70.

However, if the predetermined support level holds, the currency pair could continue to trade downwards in the nearest future. In this case the pair could decline below the psychological level at 104.00.

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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.

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