USD/JPY trades above 145.50

Source: Dukascopy Bank SA


On Monday morning, the USD/JPY reached above the 145.00 mark and the last week's high level zone at 145.20/145.30 turned into support.

An extension of the surge of the USD/JPY pair is set to eventually reach the levels, where the Bank of Japan intervened in the Forex market and beat the rate down. Namely, the central bank started buying the Japanese Yen with its reserves, as the USD/JPY reached 145.85/145.90.

However, a decline of the US Dollar against the Japanese Yen would have to pass below the 145.20/145.30 zone, before the 145.00 level is reached.
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