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On Monday, the USD/JPY was already surging, when US Retail Sales were released. The data boosted the USD even more. At mid-day the rate was above 154.00 and was heading to the combination of the 154.50 level and the weekly R2 at 154.56.
A move above the weekly R2 and the 154.50 level, is expected to face resistance in the 155.00 mark. Higher above, note the 155.50 level and the weekly R3 at 155.75.
In the case of a decline of the USD, the 154.00 level and the weekly R1 simple pivot point could act as support. Below these levels, a stop is likely near the 153.50 level and the 50-hour simple moving average.
Mon, 15 Apr 2024 13:16:02 GMT
Source: Dukascopy Bank SA
On Monday, the USD/JPY was already surging, when US Retail Sales were released. The data boosted the USD even more. At mid-day the rate was above 154.00 and was heading to the combination of the 154.50 level and the weekly R2 at 154.56.
A move above the weekly R2 and the 154.50 level, is expected to face resistance in the 155.00 mark. Higher above, note the 155.50 level and the weekly R3 at 155.75.
In the case of a decline of the USD, the 154.00 level and the weekly R1 simple pivot point could act as support. Below these levels, a stop is likely near the 153.50 level and the 50-hour simple moving average.