USD/JPY surge gains momentum

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


The USD/JPY step by step approached the 150.50 level, which was reached and acted as resistance for two hours. Afterwards, the rate surged sharply and easily reached above the 151.00 mark. By the middle of the day's European trading, the rate had reached above 151.30. At the moment of writing, the rate appeared to be unstoppable.

An extension of the surge could encounter resistance in the upper trend line of a channel up pattern near 151.50. Meanwhile, round levels might continue to impact the rate.

On the other hand, a decline of the pair could look for support in the 151.00 and 150.50 level, before reaching the cluster of support at 150.00.
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