USDJPY

The Japanese Yen (JPY) had one of its best weeks in history against the US Dollar (USD) last week. Since last week, a series of (unconfirmed) interventions pushed the USD/JPY pair from around 160.00 to 153.00. The real question is how long these interventions will last and whether they will keep the USD/JPY trading at current levels or lower. The RSI indicator for the pair, which is below its 20-day moving average, is at 50.31, while its momentum is at 99.51. In intraday downward movements, the 153.58 level can be followed. In case of a breakdown below this level, supports at 153.14, 152.40 and 151.96 may become important. In possible increases, resistance levels at 154.32, 154.76 and 155.50 will be watched. Support: 153.140 – 152.400 Resistance: 154.320 – 154.760