USD/JPY remains near 150.00

Source: Dukascopy Bank SA


The USD/JPY pair failed to break the resistance f the 150.65/150.90 range. The rate has retraced and found support in the 149.85/149.95 zone.

On Monday, the pair was observed to be once again approaching the 150.65/150.90 range and the weekly R1 simple pivot point at 150.87. In general, a move above this range could immediately stop at the 151.00 level.

However, if the US Dollar declines against the Yen, note that the 50, 100 and 200-hour simple moving averages might slow down a potential drop, before the rate reaches the 150.00 mark and the weekly simple pivot point at 150.04. Further below, the 149.85/149.95 range might once again come into play.
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