USD/JPY surge fails before 155.00

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


In the aftermath of the US elections, the US Dollar surged and the USD/JPY rate reached above 154.50. However, the pair did not test the 155.00 mark, as a retracement started. Eventually, the retracement ended near 152.20. This week, the rate appeared to be heading back higher, as on Monday the 154.00 level's resistance was tested.

A surge of the rate above 154.00 might encounter resistance in the weekly R1 simple pivot point at 154.45 and the post-election high level range at 154.50/154.70. Higher above, the 155.00 mark is almost surely going to impact the rate.

In the case of a decline of the currency pair, the combination of the 50, 100 and 200-hour simple moving averages could act as support near 153.00. Moreover, note the weekly simple pivot point at 152.87. Further below, the Friday's low might act as support, before the rate approaches the support range near 151.50.
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