USD/JPY is squeezed by moving averages

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


In general, the USD/JPY still remains near 149.50. However, the pair has been reached by the 50 and 200-hour simple moving average. In general, the rate is squeezed in, which indicates taht a sharp move up or down is set to follow.

A move above 149.50 could be slowed down by the 150.00 mark. Higher above, note the the weekly simple pivot point at 150.20. Above these levels, the 150.50 ad 151.00 might turn into resistance, before the weekly R1 simple pivot point would be reached.

However, a decline of the US Dollar against the Yen might look for support in the 149.00 level, the 100-hour simple moving average near 148.75 and the weekly S1 simple pivot point at 148.50 and the 148.50 level on its own. Further below, note the 148.00 level and the various support levels that surround 147.50 .
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