USD/JPY Current price: 122.85
View Live Chart for the USD/JPY
Recovering from key support. The USD/JPY pair started the day falling down to 122.25, a few pips above the base of these last 3-weeks range, but bounced over 60 pips as risk sentiment pushed stocks sharply higher, and the 1 hour chart shows that the price is back approaching the 123.00 level, with the price above its 100 SMA and the technical indicators heading south above their mid-lines. In the 4 hours chart, the technical indicators turned higher, but remain below their mid-lines, whilst the price is aiming to recover above its 100 SMA. Should the ongoing rally extend beyond 123.00, the pair can continue advancing, moreover it US stocks follow their European counterparts, towards the recent highs set at 123.70/80.
Support levels: 122.60 122.20 121.70
Resistance levels: 123.00 123.40 123.75
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