USDJPY

The USD/JPY pair experienced heavy selling pressure against the US Dollar earlier today, with Japanese Chief Cabinet Secretary Yoshimasa Hayashi making some verbal interventions, stating that he believes the exchange rate should reflect fundamentals. The pair is seen to be on the rise due to the appreciation of the dollar. The upward movement observed in the dollar index supports the pair upwards. The daily gain for the pair, which closed at 158.68 on the previous trading day, was 0.39%. The RSI indicator for the pair, which is below its 20-day moving average, is at 46.23, while its momentum is at 98.63. The 158.46 level can be followed for intraday downward movements. If this level is broken, the support levels of 158.19 and 157.71 may become important. In case of possible increases, the resistance levels of 158.95, 159.22 and 159.70 will be monitored. Support: 158.460 – 158.190 Resistance: 158.950 – 159.220