USD/JPY retreats to 148.00

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


The USD/JPY currency pair has passed below the support of the 50, 100 and 200-hour simple moving averages, and the combination of the weekly simple pivot point at 148.84 and the support range at 148.55/148.75. On Tuesday morning, the pair found support in the 148.00 mark and confirmed the 148.55/148.75 range as resistance.

In the near term future, it is expected that the 50, 100 and 200-hour simple moving averages decline and provide additional resistance, which could push the pair down. A potential decline would then look for support in the 148.00 mark, the weekly S1 simple pivot point at 147.69, before approaching the 147.15/147.35 range.

On the other hand, a recovery of the US Dollar against the Japanese Yen would have to break the 148.55/148.75 range, the weekly simple pivot point at 148.84 and the 50, 100 and 200-hour simple moving averages near 149.00. Higher above, note the 149.65/149.75 range that held throughout last week and was the cause for the Monday's decline.
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