USD/JPY 145.00 mark acts as support

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


Despite reaching above the 146.00/146.50 range, the rate did not extend its recovery far. The surge stopped and reversed near the resistance of the 50, 100 and 200-hour simple moving average. Eventually, the decline reached the support of the 145.00 mark, which reversed the decline. By mid-Wednesday, the pair was once again testing the 146.00/146.50 zone. In general, prior support and resistance ranges remain valid.

In the case of a resumption of the prior decline, support is expected to be found in round exchange rate levels. However, the 145.00 mark is expected to be the strongest. In addition, note the weekly S2 simple pivot point at 144.40.

Meanwhile, a potential breaking of the 146.00/146.50 range might not be followed by a broad recovery due to the combination of resistance levels from 147.00 up to 148.00. In addition, to the resistance of the round levels, in that range there are located the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point.
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