USD/JPY almost reaches 115.00 mark

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


On Friday, the USD/JPY currency exchange rate was testing the support of the channel up pattern and the 50-hour simple moving average near 115.85. However, the US government announced that Russia is about to invade Ukraine. The event caused a major run to safety, as the value of the Japanese Yen spiked.

On the USD/JPY charts it resulted in a two hour drop, which almost reached the 115.00 mark. Afterwards, a recovery to the resistance of the 115.60 level took place. On Monday, the pair declined and once again approached the 115.00 level.

A passing below the 115.00 level could look for support in the weekly S1 simple pivot point at 114.85. Further below, the most close by support level was the weekly S2 simple pivot point at 114.17.

Meanwhile, a recovery of the US Dollar against the Japanese Yen might find resistance in the 200-hour simple moving average near 115.25, before aiming at the weekly simple pivot point at 115.60. In addition, take into account that the 50 and 100-hour simple moving averages were approaching the pivot point.
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