USD/JPY reaches 139.50

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


The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant."

The weakness of the US Dollar resulted in the USD/JPY currency exchange rate reaching the 139.50 level during the early hours of Asian trading session. meanwhile, the rate had left above it most of the hourly simple moving averages.

An extension of the ongoing decline would have to pass the 139.50 level's support, before reaching the combination of the weekly S1 simple pivot point at 138.96 and the 139.00 mark. Further below, note the 138.50 level and the support zone at 137.25/138.00.

However, a recovery of the US Dollar against the Japanese Yen could encounter resistance in the 140.00 mark and the 200-hour simple moving average. Above these levels, the weekly simple pivot point might act as resistance together with the 50-hour SMA near 140.50. Higher above, note the 141.00 level and the 100-hour SMA.
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