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At mid-Wednesday the USD/JPY currency pair reached above the 135.00 mark and the upper trend line of the channel up pattern. Almost immediately after the event, the pair approached the combined resistance of the 134.35/134.55 zone and the weekly R1 simple pivot point at 135.40.
In the meantime, the pair was set to be moved by the US FOMC Meeting Minutes release at 18:00 GMT.
A breaking of the resistance zone could result in the rate approaching the July levels near 136.00/138.00. Meanwhile, note that the weekly R2 simple pivot point at 137.42 might act as resistance.
On the other hand, a decline of the US Dollar against the Japanese yen might encounter support first in the 134.50 level. Further below, note the 50 and 200-hour simple moving averages
Wed, 17 Aug 2022 12:41:20 GMT
Source: Dukascopy Bank SA
At mid-Wednesday the USD/JPY currency pair reached above the 135.00 mark and the upper trend line of the channel up pattern. Almost immediately after the event, the pair approached the combined resistance of the 134.35/134.55 zone and the weekly R1 simple pivot point at 135.40.
In the meantime, the pair was set to be moved by the US FOMC Meeting Minutes release at 18:00 GMT.
A breaking of the resistance zone could result in the rate approaching the July levels near 136.00/138.00. Meanwhile, note that the weekly R2 simple pivot point at 137.42 might act as resistance.
On the other hand, a decline of the US Dollar against the Japanese yen might encounter support first in the 134.50 level. Further below, note the 50 and 200-hour simple moving averages