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- USD / JPY remains above MA (200) H1
USD / JPY remains above MA (200) H1
Today, the USD/JPY pair is trading in a wide range of Y105. 20-60 and remains above the MA (200) H1 (Y105.05) moving average line. On the four-hour chart, the pair remains above MA (200) H4 (Y104. 15). Technically speaking, Y105.65-75 represents the resistance level. If this level is passed, then prices may rise to Y106. 10. The lower limit of Y105. 05-20 represents the support level.
⦁ Resistance levels are: Y105.65-75, Y106.10, Y106.55
⦁ Support levels are: Y104.90-105.00, Y104.40-55, Y104.00
The main scenario for the pair's promotion - it is possible to continue the upward movement to Y105. 65-75 (February 5-8 highs).
An alternative scenario - if the area of Y105.05-20 (session low, MA (200) H1) is broken, the pair may fall to Y104.80 (February 2 low)
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