USD/JPY continues to test resistance

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


Despite the drop to 149.20 that was caused by fundamental events, the USD/JPY has returned to the resistance of the 150.65/150.90 range.

A potential surge would have to break the 150.65/150.90 range, before testing the resistance of the weekly R1 simple pivot point at 150.93 and the 151.00 level. Higher above, the weekly R2 simple pivot point at 151.39 and the 151.50 level could act as resistance.

In the case of a Dollar decline against the Yen, the rate is set to look for support in the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 150.30. Below the technical levels, the ate would look for support in the 150.00 mark and the weekly S1 simple pivot point at 149.85.
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