USD/JPY returns to 147.00

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


Despite the recent strengthening of the US Dollar that was caused by the US GDP data release, the USD/JPY has declined. The rate appears to have been pushed down by the 50-hour simple moving average. On Thursday morning, the currency exchange rate was once again finding support in the 147.00 mark.

An extension of the decline would have to pass below 147.00 and the low level range at 146.67/146.87. Afterwards, the 146.50 level might slow down the rate's descent, before it reaches the combination of the 146.00 mark and the weekly S2 simple pivot point.

On the other hand, a recovery of the pair has to break the resistance of the 50-hour simple moving average near 147.46 and the weekly S1 at 147.69. Higher above, the 148.00 level is set to act as resistance, prior tot her ate reaching the 100 and 200-hour simple moving averages near 148.20 and 148.50.
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