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- USD / JPY tries to test the strength of the support of MA (200) H1
USD / JPY tries to test the strength of the support of MA (200) H1
Today, the USD/JPY pair is trading in the range of Y109. 60-85 and on the hourly chart is trying to test the strength of the support of MA (200) H1 (Y109.60). On the four-hour chart, the pair is trading above MA (200) H4 (Y109. 25). Technically speaking, the support level of Y109. 60 can keep prices from falling. If it breaks through, prices may fall to Y109. 20-30. The upper bound of Y109. 85 represents the resistance level. The most likely range of the pair's movement for today may be hidden within the range of Y109. 60-85.
⦁ Resistance levels are: Y109.85, Y110.20-30, Y110.55
⦁ Support levels are: Y109.60, Y109.20-30, Y109.00
The main scenario for the pair's promotion - if the resistance of Y109.85 (June 11 high, session 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. 60 (session low, MA (200) H1) is broken, the pair may fall to Y109. 20-30 (June 7-10 lows).
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