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The release of the US data reached its peak with the release of the US monthly employment data. Just after the release of data on Friday at 12:30 GMT, the USD/JPY dropped to 144.50. The round level acted as support and caused a recovery. By 14:30 GMT, the pair was heading tot he 146.00 level and the combination of the 100 and 200-hour simple moving averages.
A move above the moving averages and the 146.00 level would be expected to test the resistance of the 146.50 level. Higher above, note the combination of the 147.00 mark, the weekly R1 at 147.17 and the Tuesday's high at 147.37.
On the other hand, a decline of the US Dollar against the Japanese Yen is expected to look for support in the 145.70 level and the 50-hour simple moving average, the 145.50, 145.00 and 144.50 levels.
Fri, 01 Sep 2023 14:36:03 GMT
Source: Dukascopy Bank SA
The release of the US data reached its peak with the release of the US monthly employment data. Just after the release of data on Friday at 12:30 GMT, the USD/JPY dropped to 144.50. The round level acted as support and caused a recovery. By 14:30 GMT, the pair was heading tot he 146.00 level and the combination of the 100 and 200-hour simple moving averages.
A move above the moving averages and the 146.00 level would be expected to test the resistance of the 146.50 level. Higher above, note the combination of the 147.00 mark, the weekly R1 at 147.17 and the Tuesday's high at 147.37.
On the other hand, a decline of the US Dollar against the Japanese Yen is expected to look for support in the 145.70 level and the 50-hour simple moving average, the 145.50, 145.00 and 144.50 levels.