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USD/JPY pulls back from 150 resistance – Société Générale

USD/JPY failed to hold above 150 and slipped below its 200-day moving average, with focus now shifting to support at 146.20/145.40. A break lower could open the door to further downside, Société Générale's FX analysts note.

USD/JPY slips below 200-DMA

"USD/JPY recently encountered strong resistance near 150 and has dipped below the 200-day moving average, indicating a lack of sustained upward momentum. It is now gradually approaching a multi-month ascending trend line in the 146.20/145.40, which serves as short-term support."

"Failure to overcome recent peak at 150 may signal a continued pullback. If the pair is unable to defend 145.40, there could be a risk of another down leg."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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