On Friday morning, the USD/JPY bounced off the combined resistance of the 55, 100 and 200-hour simple moving averages and the 110.00 round exchange rate level. Meanwhile, note that the rate ignored the support and resistance of the weekly simple pivot point at 109.82.
In the case that the rate declines, it could look for support near the 109.60 level. A support zone near this level has kept the pair up throughout September.
On the other hand, a potential surge would once again test the resistance of the 110.00 level and the three simple moving averages. Above these levels, the 110.25 might provide additional resistance.
