Technical Analysis
18.11.2020, 06:09

USD/JPY has consolidated below MA 200 H1

Yesterday, the USD/JPY was trading lower and closed the day in the red around the Y104.20. Today it was trading in a narrow range of Y104.05-15, staying close to yesterday's closing price. On the hourly chart, USD/JPY has broken through and consolidated below the MA line (200) H1 (Y104.60). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the USD/JPY remains below MA 200 H1, it may be necessary to look for a sell entry point to form a correction.

  • Resistances levels are at: Y104.55, Y105.10, Y105.40

  • Support levels are at: Y103.65, Y103.20, Y103.00

Probably, the main scenario - is the continuation of the downward movement to Y103.65 (low of the European session on Nov 9). An alternative scenario - may be consolidation above MA 200 H1, followed by a rise to Y105.65 (Nov 11 low).

Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

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