USD/JPY remains at 141.00

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


In general, the rate appears to be consolidating at the 141.00 mark, as it waits for more news either from the US or Japan.

In the US it is the case of whether the Dollar continues its decline or it gets oversold and a retracement recovery occurs. Meanwhile, in Japan the Prime Minister is changing the government. Media reports indicate that the change of the Ministers would allow the Bank of Japan to end its ultra easy monetary policy and strengthen the Yen. A Reuters poll indicates that 20% of surveyed economists expect the BoJ to end its policy already in January.

From a technical perspective the rate has the support of the 141.00 level. Although there is no additional support as low as the weekly S2 simple pivot point at 138.79. In the meantime, it is highly likely that the 140.00 mark will act just like the 150.00 and impact the pair.

On the other hand, a recovery of the US Dollar against the Yen is set to face the 142.50 level and the 50-hour simple moving average. A move above these levels could be slowed down by 143.00, 143.50 and the combination of the 144.00 level and the 100-hour simple moving average. Higher above, the 144.30/145.10 range is set to turn into resistance, as it has during the week acted as both support and resistance. In addition, it is strengthened by the weekly simple pivot point and the 200-hour simple moving average.
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