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- USD/JPY is testing the MA (200) H1
USD/JPY is testing the MA (200) H1
Today, the USD/JPY pair is trading in the Y103.70-90 range and is testing the MA (200) H1 (Y103. 90) moving average line. On the four-hour chart, the situation is similar. Technically speaking, a strong resistance level of Y104. 20 may keep the pair from rising. If it breaks through, the price can soar to Y104. 40. The lower limit of Y103. 50 is the support level. If it is broken, the pair may fall to Y102. 95. The most likely range of movement of the pair for today may be hidden within the range of Y103. 50-104.20.
⦁ Resistance levels are: Y104.10-20, Y104.40, Y104.60
⦁ Support levels are: Y103.50-60, Y102.95, Y102.60
The main scenario for the pair's promotion - support breakout of Y103.50-65 (January 13-19 lows) and, perhaps, the pair's decline to Y102. 95 (January 7 low)
An alternative scenario - break in the resistance of Y104. 10-20 (January 14 and 19 high) and, perhaps, a rise in the pair to Y104.40 (January 11 high)
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