USD/JPY hits the 150.00 mark

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Source: Dukascopy Bank SA


The USD/JPY currency pair has once again reached the 150.00 mark. At this level the markets expect the Bank of Japan to intervene in the forex market and strengthen the Japanese Yen.

A strengthening of the Yen would result in the currency pair declining below the support of the 100-hour simple moving average which has kept the pair up since October 18. The decline would then look for support in the 200-hour simple moving average near 149.70 and the weekly simple pivot point at 149.51.

However, a potential move above 150.00 could form a technical perspective run into the resistance of the weekly R1 simple pivot point at 150.28.
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