Dukascopy Bank Team
Dukascopy Bank SA
USD/JPY
During Friday, the USD/JPY currency pair surged to the upper boundary of the short-term descending channel located circa 108.07.
During today's morning, the pair was testing the support cluster formed by the 55– and 100-hour SMAs, as well the weekly and monthly PP in the 107.72/107.91 range.
It is expected, that the exchange rate could surpass the given support and continue to decline, as it pressured by the 200-hour SMA, currently located at 108.07.
Otherwise, it is likely, that the rate could trade sideways between the given resistance and support in the short term.
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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