USD/JPY touches new low

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At exactly 15:00 GMT, the US Institute for Supply Management published its Purchasing Managers Index. The markets expected the index to show good conditions in the sector, but the actual data disappointed. Due to this reason the US Dollar sharply declined.

The USD/JPY rate reacted to the news with a decline below the low level range of 149.85/149.95. However, it appeared that the rate is still drawn to the 150.00 level and could remain near it.

A recovery of the US Dollar against the Yen is expected to face the 150.00 mark and the weekly simple pivot point at 150.04. Higher above, note the 50, 100 and 200-hour simple moving averages at 150.30/150.40. In addition, the 150.60 level acted as resistance on Monday.

If the rate declines, note the late February low level at 149.20, the weekly S1 simple pivot point at 149.23 and the 149.00 mark taht could also act as support. In the meantime, it was spotted last week that the 149.60 level has been capable of acting as support.
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