USD/JPY recovery reaches 144.00

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


The Fed Meeting Minutes caused a decline of the USD at 19:00 GMT on Wednesday. However, the USD/JPY pair did not start a broader decline, as it found support in the 143.00 mark. By mid-Thursday, the US Dollar had continued to appreciate against the Yen and reached the 144.00 level.

In the near term future, the pair could approach the 144.30/145.00 range and test its resistance capability. Breaking above 145.00 would highly likely result in the pair approaching the weekly R1 simple pivot point at 145.50.

However, in the case of the US Dollar declining against the Yen, note the weekly simple pivot point at 143.20, the 143.00 level and the ascending 50-hour simple moving average. Further below, support could be found in the 141.90/142.10 range and the 100 and 200-hour simple moving averages.
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