USD/JPY reveals support near 144.60

Source: Dukascopy Bank SA


The USD/JPY currency pair's decline below 145.00 has found support in the 144.60 level. This level held and caused a recovery of the USD/JPY that managed to pierce one resistance after another. By late Thursday's trading hours, the pair had reached the 146.00 level.

A move above 146.00 mark could face resistance in the combination of the 146.50 level, 146.30/146.55 range and the weekly R1 simple pivot point at 146.38 are highly likely to stop a surge of USD/JPY. Higher above, note the 147.00 mark and the weekly R1 simple pivot point at 147.42.

However, a decline of the US Dollar against the Japanese Yen is expected to look for support in the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point near 145.50. Further below, note the 144.90/145.15 range and the 144.60 level.
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