USD/JPY extends recovery

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


The broader surge of the US Dollar has continued due to a stock sell off that was caused by a downgrading of Apple stock by Barclays. On the USD/JPY charts it has resulted in a surge above 142.50.

The ongoing surge could encounter resistance in the 143.00 level and the weekly simple pivot point at 143.23.

In the meantime, a decline of the US Dollar against the Yen is highly likely set to encounter support in the 141.85/142.10 range and the 50, 100 and 200-hour simple moving averages that were approaching this zone.
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