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- The USD/JPY pair tries to test the resistance of MA (200) H1 for strength
The USD/JPY pair tries to test the resistance of MA (200) H1 for strength
Today, the USD/JPY pair is trading mainly with growth in the range of Y109. 30-55 and on the hourly chart is trying to test the strength of the MA (200) H1 (Y109.55). On the four-hour chart, the pair is trading above MA (200) H4 (Y109. 20). Technically speaking, the resistance level of Y109.80 can keep prices from rising further. If it breaks through, prices may rise to Y110. 20-30. The lower bound of Y109. 20-30 represents the support level. The most likely range of the pair's movement for today may be hidden within the range of Y109. 20-80.
⦁ Resistance levels are: Y109.80, Y110.20-30, Y110.55
⦁ Support levels are: Y109.20-30, Y109.00, Y108.55
The main scenario for the pair's promotion - if the resistance of Y109.80 (June 10 high) is broken, the pair can rise to Y110.20-30 (May 28 and June 3-4 highs)
An alternative scenario - if the support of Y109. 20-30 (June 7-10 lows) is broken, the pair may fall to Y109. 00 (May 27 low)
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