USD/JPY continues to wait for the Fed

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


The USD/JPY continues to fluctuate around the 130.00 level. Note that even the hourly moving averages are located now at that level. Previous forecast scenarios have been left unchanged. In general, the pair waits for future direction in the form of the US Federal Reserve Rate hike on Wednesday at 19:00 GMT.

The move above 130.00 faces resistance in the 130.50 and 131.00 levels. Both of these levels have recently acted as resistance. In addition, take into account the weekly R1 simple pivot point at 130.94.

Meanwhile, a decline of the currency pair could look for support in 129.00, 128.50 and 128.00, before the support zone near 127.25/127.50 would be reached.
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Wed, 01 Feb 2023 08:38:46 GMT

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