USD/JPY surge breaks pattern

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


The USD/JPY has surged more than expected. Moreover, the pair has broken the channel up pattern's resistance line. On Wednesday, the rate encountered resistance at 149.70, before starting a retracement down. On Thursday, the currency exchange rate was finding support in the weekly R2 at 149.18 and the 50-hour simple moving average.

A resumption of the surge is expected to face resistance at 149.50, 149.70 levels and the weekly R2 simple pivot point at 149.90. In the case of these levels failing, the rate will reach the 150.00 mark.

However, a move below the weekly R2 simple pivot point at 149.18 is expected to result in the pair looking for support in the 149.00 mark and the 100-hour simple moving average. Further below, note the weekly R1 at 148.76, the 148.50 level and the approaching 200-hour simple moving average.
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