USD/JPY Analysis: Will be retraced by 55-hour SMA

Dukascopy Bank Team Dukascopy Bank SA

USDJPY

During Friday's trading session, the currency exchange rate ended the day at the 110.00 level, as it was expected! On Monday morning, the rate was located at the 110.17 mark.

It is expected that the rate will depreciate towards the 50.00% Fibonacci retracement level at the 109.60 mark.

Besides, the resistance level of the 55-hour simple moving average will catch up the rate to retrace the currency exchange rate at the 110.30 level.

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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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