Wed, Apr 14, 2021 @ 07:47 GMT
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USD/JPY Sharply Decline On Friday

On Friday morning, the USD/JPY passed the support of the 100-hour SMA and the pivot point at 105.62. This resulted in a sharp decline that was expected to look for support first in the 200-hour SMA at 105.20 and afterwards the 105.00 mark.

If any of the mentioned support levels start a surge, the rate would test the combined resistance of the 55 and 100-hour simple moving averages and the pivot point in the 105.62/105.80 range.

On the other hand, if the USD/JPY declines below the support levels at 105.00, the rate would have no technical support as low as the pivot point at 104.36.

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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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