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- The USD / JPY pair fell to a nine-month low
The USD / JPY pair fell to a nine-month low
Today, the USD/JPY pair fell from Y103.55 to a nine-month low of Y103. 00, and broke through the support of Y103.25, which became the nearest resistance. The pair is trading below the moving average line of MA (200) H1 (Y103.95) and on the four - hour chart-below MA (200) H4 (Y104.25). Based on this, finding a sell position can probably be a wise decision for those who want to take advantage of a stronger Japanese currency.
⦁ Resistance levels are: Y103.25, Y104.15, Y104.60
⦁ Support levels are: Y103.00, Y102.00, Y101.20
The main scenario for the pair's promotion - breakout of the session low and psychological level of Y103.00 and may be a decline to Y102.00 (March 10 low)
An alternative scenario - correction, breakout of resistance Y103.25 (December 16 low) and may be an increase to Y104.15 (December 15 high)
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