Yesterday, the USD/JPY currency pair tried to surpass the resistance level formed by the 55– and 100-hour SMAs, as well the Fibonacci 38.20% retracement at 108.44.  

Note, that the pair is supported by the 200-hour SMA, currently located at 108.33, thus, some upside potential could prevail in the market. A possible upside target is the weekly R1 at 108.61. 

If the given resistance holds, it is expected, that the exchange rate could re-test the lower boundary of the short-term ascending channel. It is unlikely, that a breakout south could occur, as the rate is supported by the weekly PP at 108.22.


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.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD rises above 1.1200 amid some USD weakness

EUR/USD is trading above 1.1200, recovering some of the losses. Earlier, ECB officials expressed concern about global growth President Draghi speaks later. Tension is rising toward the Fed decision.


GBP/USD falls to the lowest since January

GBP/USD is trading around 1.2550, the lowest since January. Sterling has been under pressure amid growing uncertainty about Brexit and USD strength.


USD/JPY remains directionless above mid-108s on Monday

The USD/JPY pair is struggling to make a decisive move in either direction on Monday as the slightly upbeat market sentiment doesn't allow the safe-haven JPY to gather strength.


Gold: Signs of bullish exhaustion ahead of the Fed

Gold's rally seems to have run its course with signs of bullish exhaustion emerging on technical charts ahead of Wednesday's FOMC (Federal Open Market Committee) rate decision.

Read more

Gold recovers early lost ground, back above $1240 level

Gold recovered a major part of its early slide and moved to the top end of its daily trading range, above the $1340 region post-US data.

Gold News