USD/JPY reaches above 145.00

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Source: Dukascopy Bank SA


The USD/JPY pair has managed to breach the resistance of the 145.00 level. In addition, after the first pass above 145.00, the rate retraced back down and revealed the location of a channel up pattern's support range.

The ongoing surge of the USD/JPY currency pair is expected to encounter resistance in the 146.25/146.50 zone, before continuing on higher and facing potential resistance of other round exchange rate levels.

In the meantime, a potential decline of the currency pair is set to look for support in the 145.00 mark and the combination of the 50, 100 and 200-hour simple moving averages and the lower trend line of the channel up pattern.
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