Dukascopy Bank Team
Dukascopy Bank SA
USD/JPY
Yesterday, the USD/JPY currency pair tried to exceed the 108.00 level. During Friday morning, the pair surpassed the given mark.
It is likely that the exchange rate could gain support from the 55– and 100-hour SMA, as well the Fibo 38.20% and trade upwards in the short run. In this case the rate could face the resistance formed by the weekly PP, the Fibo 23.60% and the 200-hour SMA in the 108.90/109.35 area.
If the given resistance cluster holds, it is likely that the US Dollar could consolidate against the Japanese Yen in the nearest future. Also, it is unlikely that bears could prevail, and the pair could drop below the support area formed by the weekly PP, the monthly S1 and the Fibo 50.00% in the 106.60/106.85 range.
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.
Recommended Content
Editors’ Picks
GBP/USD clings to recovery gains above 1.3200, as BoE looms
GBP/USD sustains the recovery above 1.3200 in early Europe on Thursday, having found buyers near 1.3150. A fresh US Dollar pullback and a rebound in risk sentiment offer support to the pair ahead of the BoE policy announcements.
EUR/USD holds higher ground above 1.1100, focus shifts to ECB-speak
EUR/USD is holding higher ground above 1.1100 in the early European session on Thursday. The pair is underpinned by the renewed US Dollar retreat, as traders digest the Fed's dovish outlook, bracing for ECB-speak for fresh trading incentives. US data are also eyed.
Gold defends $2,550 in the Fed’s aftermath, ahead of US data
Gold price is defending $2,550 early Thursday, catching a breath after intense volatility witnessed in the aftermath of the all-important US Federal Reserve monetary policy announcements and Fed Chairman Jerome Powell’s press conference.
BoE expected to keep interest rate unchanged at 5% as price pressures persist
After a close call in August, the Bank of England’s September interest rate decision is keenly awaited for fresh cues on the bank’s future policy action and the pace of its bond sales.
Bitcoin surges to $62,000 mark after 50 bps Fed rate cut
Bitcoin and Ripple eye for a rally as they break and find support around their resistance barrier. Meanwhile, Ethereum demonstrates signs of recovery as it approaches a critical resistance level, indicating that an upward rally could be on the horizon if it successfully breaks through.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.