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- USD/JPY is trading near a one-month low
USD/JPY is trading near a one-month low
Today, the USD/JPY pair is trading mainly with a decline in The y104.55-95 range, having lost most of the positions gained yesterday. The pair is trading slightly above the one-month low of Y104.35 reached on Wednesday. The pair is trading below THE mA (200) H1 moving average line (Y105. 20). The situation is similar on the four-hour chart. In this situation, the pair can break through the support of Y104. 35 and continue the decline to Y104. 00. On the other hand, the pair may still rise to MA (200) H1 (Y105. 20). Finding a sell position can be a wise decision for those who want to take advantage of the stronger Japanese yen.
⦁ Resistance levels are at: Y104.95, Y105.20, Y105.75
⦁ Support levels are at: Y104.35, Y104.00, Y103.10
The main scenario for the pair's promotion - decline to Y104. 35 (October 21 low), and then, perhaps, a decline in the pair to Y104. 00 (September 21 low)
An alternative scenario - break of the session high Y104. 95, and then, perhaps, the pair's growth to MA (200) H1 (Y105. 20)
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