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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 the Y105.40-85 range and remains above the MA (200) H1 (Y105.30) moving average line. On the four-hour chart, the pair is also trading above MA (200) H4 (Y104. 50). Technically speaking, a strong support level of Y105.20 may keep prices from falling further. If it breaks through, the price may fall to Y104. 90. The upper limit of Y105. 90 is the resistance level. If this level is passed, the pair may follow a correction to Y106. 20.
⦁ Resistance levels are: Y105.90, Y106.20, Y106.55
⦁ Support levels are: Y105.20-30, Y104.90, Y104.40
The main scenario for the pair's promotion - correction and may be an increase to Y105. 90 (February 18 high).
An alternative scenario - if the support of Y105.20-30 (February 16 low, MA (200) H1) is broken, the pair may fall to Y104. 90 (February 15 low)
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