USD/JPY reaches pre-intervention high

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


On Tuesday morning, the USD/JPY currency pair reached the 145.85/145.90 zone, which is where the Bank of Japan intervened and beat the currency rate down. The zone acted as resistance and the pair retraced to the support of the 50-hour simple moving average near 145.50.

A move above the 145.90 level is expected to encounter resistance in the weekly R1 simple pivot point at 145.93 and the 146.00 mark. Higher above, it is unclear, which round level might stop a surge. Meanwhile, the central bank of Japan is surely watching the decline of the Yen.

However, a decline of the USD against the JPY would have to reach below the combination of the 50-hour SMA and the 145.50 level. Further below, note the 145.20/145.30 zone, which has acted as support and resistance.
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Tue, 11 Oct 2022 11:00:57 GMT

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