USD/JPY recovers to 146.50

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


A combination of two fundamental trends has caused a surge of the USD/JPY. First of all, the US better than expected monthly employment data caused a strengthening of the USD. Secondly, the markets realized that the Bank of Japan has not made a promise to change their policy, but is just evaluating its ultra easy policy.

By mid-Monday, the rate had reached the resistance of the 146.50 level and the 200-hour simple moving average. During the surge, it was spotted that moving averages and round price levels impacted the rate and acted as both resistance and support.

The ongoing recovery has to break the 200-hour simple moving average and the 146.50 mark, before returning to the 150.00 level. However, it is highly likely that resistance would be met in round price levels and the weekly R1 simple pivot point at 147.73.

On the other hand, a decline of the US Dollar against the Japanese yen is set to look for support in the 100-hour simple moving average and the 145.50 level. Further below, note the combination of the 145.00 level, the 50-hour simple moving average and the weekly simple pivot point at 144.67.
Back to articles

Actual Topics

Mon, 11 Dec 2023 20:12:57 GMT

Gold is back below 2,000.00

The price for gold had already started a decline, as the US employment data was released on Friday. The higher than expected data sets caused a surge of the value of the USD, which in turn caused a drop of the price for gold. Eventually, the price found some support near the 2,000.00 mark, but an attempted recovery failed

Mon, 11 Dec 2023 17:58:53 GMT

GBP/USD reveals resistance zone near 1.2600

Prior to the Friday's release of US employment data, the GBP/USD confirmed a resistance zone at 1.2590/1.2610. The zone caused a decline to the support of the 1.2545/1.2550 range. Afterwards, the US data strengthened the US Dollar, which resulted in the pair touching the support of the 1.2500 mark. However, by mid-Monday, the pair had recovered and once again tested

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.