USD/JPY breaks pattern

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


The surge of the US Dollar against the Japanese Yen has escalated. Namely, the pair has broken the channel up pattern to the upside and by mid-Wednesday the rate was already at 145.00.

A continuation of the surge could encounter resistance only in round levels. The pair has broken all known technical resistance.

On the other hand, it can be observed that the technical levels were acting as support. Note the weekly R3 simple pivot point at 144.75, the weekly R2 at 142.74 and the approaching hourly moving averages below 142.50.
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