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- The USD/JPY broke through and consolidated above the MA line (200) H1
The USD/JPY broke through and consolidated above the MA line (200) H1
Yesterday, the USD/JPY was trading sharply higher and closed the day in positive territory around the Y105.35. Today it dropped slightly and dropped to Y104.80. On the hourly chart, USD/JPY broke through yesterday and consolidated above the MA line (200) H1 (Y104.35). On the four-hour chart, it remains below the MA 200 H4 line for now. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the USD/JPY remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.
Resistances levels are at: Y105.60-70, Y105.90, Y106.10
Support levels are at: Y104.75, Y104.15, Y103.20
Probably, the main scenario - is the continuation of the upward movement to Y105.60 (Nov 9 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to Y103.20 (Nov 9 low).
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