USD/JPY remains near prior levels

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


Since Tuesday, US central bankers have made comments that they could cut interest rates. In addition, incoming data for various sectors confirms that the Federal Reserve could reduce rates. Moreover, the head of the Fed Jerome Powell has commented that easing could be done, if inflation continues to ease. Due to this reason, the US Dollar has declined in value.

On the USD/JPY chart the events were the cause for the rate to fail at another attempt to reach the 152.00 level. In general, the situation was unchanged, with the exception that the hourly simple moving averages had moved higher.

A breaking of the 151.75/151.85 range is set to test the 152.00 level, before aiming at the weekly R2 simple pivot point at 152.30.

On the other hand, a decline is bound to look for support in the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 151.43. Moreover, the 151.50 level has been impacting the rate. If these levels fail, the 151.00 mark is set to once again act as support.
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