USD/JPY recovery continues

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


The recovery of the US Dollar against the Japanese Yen appears to have encountered resistance in the 144.80 level. After the encounter, the pair retraced and found support near 144.40. In the meantime, it appeared that the 50 and 200-hour simple moving averages had resumed to have an impact on the pair.

A resumption of the US Dollar's surge against the Japanese Yen would have to break above the 145.00 mark, this week's high level zone at 145.20/142.30 and the weekly R1 simple pivot point at 145.34. Higher above, take into account that the Bank of Japan intervened in the market at 145.85/145.90.

On the other hand, a decline of the USD/JPY pair is expected to find support in the 144.50 level and the combination of the 50, 100 and 200-hour simple moving averages. Further below, the weekly simple pivot point at 144.26 might act as support, before the 144.00 level and the Wednesday's low levels are reached.
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