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- The USD/JPY pair is growing and testing MA (200) H1
The USD/JPY pair is growing and testing MA (200) H1
Today, the USD/JPY pair has risen from Y103. 60 to Y103. 90 and is testing the MA (200) H1 (Y103. 70) moving average line. On the four-hour chart, the pair is trading slightly above MA (200) H4 (Y103. 65). Technically speaking, the resistance of Y103.90 may keep USD/JPY from further growth. If it breaks through, the price may rise to Y104. 10-20. Yesterday's low of Y103. 55 is the nearest support. If it is passed, the pair may follow a correction to Y103. 30. The most likely range of movement of the pair for today may be hidden within the existing range of Y103. 55-90
⦁ Resistance levels are: Y103.90, Y104.10-20, Y104.40
⦁ Support levels are: Y103.55, Y103.30, Y102.95
The main scenario for the pair's promotion - breakout of yesterday's low of Y103. 55 and decline to Y103. 30 (January 21 low)
An alternative scenario - break of the resistance of Y103.90 (January 25 high) and then, maybe, a rise to Y104. 10-20 (January 14 and 19 highs)
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