USD/JPY respects prior impact ranges

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


After the US Fed rate cut, the pair surged above the 142.00 mark, but found resistance in the 143.45/143.80 zone. Meanwhile, support is being provided by the combination of the 50 and 200-hour simple moving averages and the 141.70/142.00 range.

Note that the upcoming Bank of Japan monetary policy reveal is set to give direction to the rate. It is set to occur in the early hours of Friday's trading.

If the rate moves above the 143.80 level, the rate could be slowed down by the 145.00 mark, which has been acting as both strong support and resistance during the past.

In the case of a decline of the US Dollar against the Yen, the rate should find support in the major support range at 141.70/142.00, the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 141.62. Further below, note the 2023 low level range below 140.00.
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