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- USD/JPY is testing MA (200) H1
USD/JPY is testing MA (200) H1
Today, the USD/JPY pair is trading mainly with growth in the range of Y126.95-128.10 - slightly below the maximum value since 2002 (Y129.40) reached last week. On the hourly chart, the pair is testing the MA (200) H1 (Y127.80) moving average line, but on the four-hour chart it remains above MA (200) H4 (Y123.45). Technically speaking, the resistance of Y129.40 can keep prices from further growth. The lower bound of Y126.25 represents the support level.
⦁ Resistance levels are: Y128.20, Y129.10-40, Y130.00
⦁ Support levels are: Y126.95, Y126.25, Y124.75-125.10
The main scenario for the pair's promotion — break of yesterday's high of Y128.20 and there may be an increase to Y129.10-40 (April 20 and 22 highs)
An alternative scenario — breakout of the session minimum of Y126.95 and there may be a decline to Y126.25 (April 18 low)
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