USD/JPY fluctuates around 150.00

Source: Dukascopy Bank SA


The release of the US CPI pushed the USD/JPY rate up. However, it appears to have encountered resistance, before reaching the 151.00 mark. The events were followed by a decline, as on mid-Thursday the rate had returned and found support in the 149.50 level.

A surge of the US Dollar against the Yen could be slowed down by the 50-hour simple moving average near 150.30 and the 150.50 level. Above these levels, the rate is set to face the weekly R2 simple pivot point at 150.77 and the 150.75/150.90 range.

In the case of a decline of the rate, the 149.50 level is expected to provide support. Below this level, take into account the 200-hour simple moving average. Further below, note the 148.50/148.80 range.
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