USD/JPY finds resistance in 142.00

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Source: Dukascopy Bank SA


On Monday, an all out US Dollar's surge occurred. On the USD/JPY chart it resulted in a surge to the 142.00 level, which acted as resistance.

A decline of the US Dollar against the Japanese Yen is expected to look for support in the 141.00 mark and the 200-hour simple moving average. Meanwhile, note that the 141.50 level and the weekly R1 simple pivot point at 141.53 did not act as support. Below 141.00, take into account the 140.50 level and the 50-hour simple moving average.

However, a potential recovery of the currency pair might result in another test of the 142.00 mark. Higher above, note the 142.50 level and the weekly R2 simple pivot point at 142.72.
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