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During the second part of Monday's trading, the USD/JPY declined below the 145.00 mark. The decline was caused by the below expectation results of the US Manufacturing PMI results at 14:00 GMT. Namely, a fundamental adjustment of the USD value occurred and pushed the USD/JPY rate as low as 144.15. However, a recovery has followed the event.
An extension of the USD move up against the Japanese Yen would have to pass above the 145.00 mark, prior to testing the resistance of the weekly R1 simple pivot point at 145.34, which acted as resistance on Monday. Higher above, note the 145.50 level and the weekly R2 simple pivot point at 145.98.
On the other hand, a decline of the pair could look for support in the combination of the weekly simple pivot point at 144.26, the 200-hour simple moving average and the 144.00 level. However, note that the 144.50 level could act as support. Meanwhile, the rate has been ignoring the 50 and 100-hour simple moving averages near 144.60.
Tue, 04 Oct 2022 11:23:27 GMT
Source: Dukascopy Bank SA
During the second part of Monday's trading, the USD/JPY declined below the 145.00 mark. The decline was caused by the below expectation results of the US Manufacturing PMI results at 14:00 GMT. Namely, a fundamental adjustment of the USD value occurred and pushed the USD/JPY rate as low as 144.15. However, a recovery has followed the event.
An extension of the USD move up against the Japanese Yen would have to pass above the 145.00 mark, prior to testing the resistance of the weekly R1 simple pivot point at 145.34, which acted as resistance on Monday. Higher above, note the 145.50 level and the weekly R2 simple pivot point at 145.98.
On the other hand, a decline of the pair could look for support in the combination of the weekly simple pivot point at 144.26, the 200-hour simple moving average and the 144.00 level. However, note that the 144.50 level could act as support. Meanwhile, the rate has been ignoring the 50 and 100-hour simple moving averages near 144.60.