USD/JPY remains below 150.00

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


In the aftermath of the Monday's drop, the USD/JPY appears to have stabilized in the 148.75/149.30 range. Namely, the pair trades around 149.00. Meanwhile, the Bank of Japan has not confirmed involvement in the currency market. Moreover, the Finance Ministry has refused to comment on the move.

In the case of a resumption of the prior surge, the combination of the 50 and 100-hour simple moving averages near 149.50 could act as resistance, before the 150.00 would be reached.

However, a potential decline of the US Dollar against the Yen could look for support in the 148.50 level and the weekly S1 simple pivot point. Further below, take into account the weekly S2 at 147.58, the 147.50 level and the Monday's low level at 147.28.
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