USD/JPY Analysis: Ignores technical levels

Dukascopy Bank Team Dukascopy Bank SA

USDJPY

The USD/JPY is trading with high volatility during the last 24 hours. Moreover, the rate has begun to largely ignore short term technical levels.

In regards to the near term future, the pair should approach and test the support of the 111.85 level. It should be pushed into the support level by the technical resistance of the 55 and 100-hour simple moving averages.

However, the rate might ignore the SMAs and surge above them and reach the 112.00 level. The pair has done this before.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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