USD/JPY is back above 145.00

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


The support of the 143.50 level appears to have been enough to cause a move above 144.30/145.00. It appears that it occurred due to the additional support of the 50 and 100-hour simple moving averages. However, it could be that the pair trades near the 145.00 mark, as technical levels have become irrelevant due to the approaching US Consumer Price Index release.

An extension of the ongoing surge is expected to face resistance in the 146.00 mark where the initial Friday's surge reversed. Higher above, note the weekly R1 simple pivot point at 146.97 and the 147.00 level.

On the other hand, a decline is set to look for support in the 144.30/145.00 range and the 50 and 100-hour simple moving averages. Further below, take into account the 143.50 level and the weekly simple pivot point at 143.61. Below these levels, support is expected to be found in the 200-hour simple moving average and the 143.00 level.
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