USD/JPY reaches above 144.00

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


Prior to the FOMC Rate Statement and Monetary Policy Statement, the USD/JPY currency pair reacted to a broader USD surge. On the pair's charts it resulted in a move above the 144.00 mark.

If the Fed hikes more than the market expects, the USD is set to surge and most likely test the resistance of the 144.68/145.00 zone and the weekly R1 simple pivot point at 144.68. A move higher would be catastrophic for the Japanese government and Bank of Japan, which have held meetings and announced that the Yen is already too weak against the USD.

However, a decline of the USD against the Yen is set to look for support in the previously passed 143.65/143.80 zone and the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point, before the rate reaches the 143.00 mark. Further below, note the 142.50 level and the support zone above it.

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