USDJPY – weekly close above pivotal Fibo barrier reinforces bullish stance

USDJPY keeps firm tone at the beginning of the week, as hawkish tones from Fed Chair Powell on Friday, offered additional support to dollar.

Faded threats of Japan’s intervention to support yen, expected on breach of 145 trigger, contributed to larger bulls, with fresh positive signal being generated on weekly close above 146.10 Fibo resistance (76.4% of 151.94/127.22 descend).

Sustained break higher would reinforce bullish structure and open way for extension towards psychological 150 barrier, which could be, according to the latest speculations, the new trigger for intervention.

Broken Fibo barrier and 10DMA (146.10/145.88) reverted to supports which should ideally keep the downside protected and guard lower pivots at 144.72/54 (20DMA / Aug 23 trough).

Res: 147.00; 148.00; 148.82; 150.00
Sup: 146.27; 146.10; 145.88; 144.54