USDJPY

The USD/JPY pair experienced heavy selling pressure against the US Dollar earlier today, while Japanese Chief Cabinet Secretary Yoshimasa Hayashi made some verbal interventions, stating that he believes the exchange rate should reflect the fundamentals. The pair is seen to be on the rise due to the appreciation of the dollar. The downward movement observed in the dollar index is pressuring the pair downwards. The daily loss for the pair, which closed at 158.24 on the previous trading day, was 0.06%. The RSI indicator for the pair, which is below its 20-day moving average, is at 43.18, while its momentum is at 98.01. The 158.36 level can be followed in intraday upward movements. If this level is exceeded, the resistances at 158.50, 158.76 and 158.90 may become important. In possible pullbacks, 158.10, 157.96 and 157.70 will be monitored as support levels. Support: 158,100 – 157,960 Resistance: 158,360 – 158,500