USD/JPY finds support in 141.00

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Source: Dukascopy Bank SA


The USD/JPY drop that was caused by the Federal Reserve found support in the 141.00 mark. During the decline, prior low levels were passed. By mid-Thursday, the pair was trading in the 141.00/142.00 range.

An extension of the ongoing decline would find support in round exchange rate level. Most notably, the 140.00 mark is expected to act as support. In addition, note the weekly S2 at 138.79.

On the other hand, a recovery of the US Dollar against the Yen would also face round exchange rate levels until it reaches the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point all in the 144.40/144.65 range.
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