USD/JPY still faces 148.00 mark

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


Since Wednesday, the recovery of the US Dollar against the Japanese Yen has stalled at the resistance of the 148.00 mark. Meanwhile, support is found in the 50 and 100-hour simple moving averages and the 146.00 level. In general, the pair is waiting for more data or events that would reveal direction.

A potential extension of the recovery is set to face the 148.00 mark. Higher above, note the 148.50/148.85 range and the 149.00 level. Both of these could stop, or even reverse the pair, before it reaches the 150.00 mark.

In the case of a decline, the rate would have to first pass below the 50 and 200-hour simple moving averages, before approaching the 100-hour SMA and the 147.00 level. If these levels fail, the pair would be set to decline to the 145.00 level and the weekly simple pivot point at 145.40.
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