USD/JPY remains below 152.00

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


Despite shortly reaching above the 151.75/151.85 resistance zone last week, the USD/JPY did not extend the surge. Instead, fundamental events caused a decline to the support of the 151.00 level. Namely, the Bank of Japan revealed that it could intervene in the currency market, if the Yen continues to fall.

A breaking of the 151.75/151.85 range is set to test the 152.00 level, before aiming at the weekly R2 simple pivot point at 152.30.

On the other hand, a decline is bound to look for support in the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 151.38/151.50. Moreover, the 151.50 level has been impacting the rate on its own. If these levels fail, the 151.00 mark is set to once again act as support.
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