USD/JPY analysis: Remains below 105.00

Dukascopy Bank Team Dukascopy Bank SA

USD/JPY

The USD/JPY currency pair remains to trade below the 105.00 level.

It is likely that the exchange rate could be pushed down by the resistance area formed by the 100– and 200-hour SMAs, as well the weekly PP and the Fibo 23.60% in the 104.94/105.13 range.

In the meantime, note that the currency pair is supported by the 55-hour SMA near 104.75. Therefore, the pair could try to exceed the monthly PP at 105.34 within the following trading session.

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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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