USD/JPY drops below 143.00

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Source: Dukascopy Bank SA


The USD/JPY decline continues. On July 7, the pair passed below the 143.00 level, signalling that the decline of the US Dollar is set to continue. The rate was expected to soon reach the support zone at 142.70/142.80.

A decline below 142.70 is expected to find support in round exchange rate levels like 142.50 and 142.00. In general, this rate has been mostly guided by round levels not technical indicators like the simple moving averages and the weekly simple pivot points. Note that the .50 decimal levels have less impact that .00 levels.

In the case of a surge, same rules apply. Round levels are most likely going to impact the rate's movements. Most strongest resistance is being provided by the 145.00 mark.
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