Chapter 3 IS USD/JPY going to 145.00
USD/JPY
Fundamental analysis
The price of the pair witnessed a rise during the past few sessions, affected by the decline in the yen and the rise of the dollar against many currencies, and we are awaiting the coming days for
news on the dollar, which will have an impact on the pair’s performance.
Technical analysis
The price of the pair witnessed a strong and sharp rise, approaching its historical and main peak around the resistance level 146.700, figures that have not been achieved since 1998 and coinciding with the arrival of technical indicators to the (overbought) areas as shown on the chart. Therefore we advise caution around these levels as the possibilities increase The emergence of some selling force and profit-taking operations, and the first support level lies around 140.400.
