USD/JPY passes below support

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


On Monday, news that the Bank of Japan might change its policy on the Japanese Yen has caused a drop of the USD/JPY. From a technical analysis perspective, the rate has passed below the support range at 149.30/149.45. Eventually, the rate found support in the 148.80 level.

A move below 148.80 is set to look for support in the 148.50 level and the weekly S2 simple pivot point at 148.44. Further below, take into account the 148.00 level.

However, in the case of a USD recovery against the Japanese Yen could face resistance in the 149.30/149.45 range. Above the zone note the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point just below the 150.00 mark.
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