USD/JPY reaches new low

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


The USD/JPY currency pair reached the support of the weekly S1 simple pivot point on Thursday morning at 145.19. Meanwhile, it was spotted that the recent decline of the US Dollar against the Japanese Yen was guided by a trend line, which connects the pair's this week's high levels.

A continuation of the ongoing decline is expected to look for support in the 145.19 level where the weekly S1 simple pivot point was located at and the 145.00 mark. Further below, note that round levels, before the pair reaches the weekly S2 simple pivot point at 142.81.

Meanwhile, a recovery of the US Dollar against the Japanese Yen could encounter resistance in the descending trend line and the 50-hour simple moving average near 146.50/147.00. Higher above, note the 100 and 200-hour simple moving averages and the weekly simple pivot point at 148.56.
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