The US Dollar started a fresh increase from the 128.20 support zone against the Japanese Yen. The USD/JPY pair climbed above the 130.00 level to move into a positive zone.
There was a clear move above the 131.20 zone and the 50 hourly simple moving average. The pair is now consolidating above the 132.50 zone. An immediate resistance on the upside is near the 133.30 level.
The next major resistance is near 133.50 on FXOpen. A clear break above the 133.50 resistance could push the price towards 134.00. The next major resistance is near the 134.65 level, where the bears might emerge.
On the downside, an initial support is near the 132.50 zone. The next support sits near the 132.00 zone and a trend line on the hourly chart, below which there is a risk of more downsides towards the 131.20 level.
