USD/JPY declines below 145.50

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


The USD/JPY has passed below the support of the weekly simple pivot point at 145.51 and the 145.50 mark. On Wednesday, it appeared that the pair was confirming the pivot point, round level and the 200-hour simple moving average as resistance.

A resumption of the ongoing decline would most likely soon test the support of the 144.90/145.15 range. Below the zone note the 144.50 level and the weekly S1 simple pivot point at 144.47. Even further below, the 144.00 mark might act as support

On the other hand, a recovery of the US Dollar against the Yen would have to break the upper trend line of a channel down pattern, the weekly simple pivot point and the combination of the 50, 100 and 200-hour simple moving averages. Above all of these levels, the 146.00 level could turn into resistance. In the case of all the technical and round levels failing to act as resistance, the 146.50 level, 146.30/146.55 range and the weekly R1 simple pivot point at 146.38 are highly likely to stop a surge of USD/JPY.
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