USD/JPY retraces below 149.00

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


The USD/JPY has continued to try and move above the 149.65/149.75 range. On Monday, the pair once again failed. However, this time the failure resulted in a decline. The rate move to the 148.55/148.75 range, which provided support. By mid-Monday, the pair had started a recovery that was approaching the 149.50 level and the 50 and 200-hour simple moving averages.

In the case of breaking the 50 and 200-hour simple moving averages and the 149.50 level, the rate would immediately face the 149.65/149.75 range. Higher above, the 150.00 mark is bound to once again act as resistance to the USD/JPY.

Meanwhile, a potential decline of the US Dollar against the Japanese Yen would need to pass below the 148.55/148.75 range. Below this support and resistance range, the currency pair is expected to look for support in the 148.00 mark and the weekly S1 simple pivot point at 147.69. Further below, the November low level range at 147.15/147.35 is set to come into play.
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