Dukascopy Bank Team
Dukascopy Bank SA
USDJPY
The trading session on Thursday did not introduce significant changes to the pair's position, as it remained fluctuating between the 55– and 100-hour SMAs and the weekly PP.
This lack of movement was turned around in the Asian session when the Greenback surged 27 pips and re-tested its two-month high of 107.70. Technical indicators suggest that the same bullish sentiment could prevail in this session, as well.
Apart from the aforementioned trend-line, the nearest resistance is set by the weekly R1 and the 38.20% Fibonacci retracement at 108.00, while a more distant northern barrier is the weekly R2 at 108.42.
Prior to the expected surge, the pair might still return for a re-test of the 55-, 100– and 200-hour SMAs. The 107.40 is unlikely to be breached.
Interested in USDJPY technicals? Check out the key levels
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.
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