USD/JPY retreats after fundamental events

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


The US Dollar was boosted by the US Retail Sales release, which caused a surge of the USD/JPY currency pair above resistance ranges that eventually turned into support. However, on Friday it was observed that there was no follow up to the prior surge, as the pair declined and by midday was below the 148.00 mark.

A continuation of the decline should look for support in the 100-hour simple moving average near 147.50 and the 200-hour simple moving average near 147.00. Further below, take into account the 146.00/146.50 zone that has acted as support.

In the meantime, a potential surge would have to break the 147.90/148.20 and 148.50/148.80 ranges, before testing the recent high levels near 149.30.
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