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- USD/JPY trading near April 2002 highs
USD/JPY trading near April 2002 highs
Yesterday the USD/JPY traded higher and closed the day in positive territory near the price of Y130.85. Today it was trading in a tight Y130.35-95 range, staying close to the April 2002 highs. On the hourly chart, USD/JPY is still trading above the MA (200) H1 (Y128.45) moving average line. The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and while the USD/JPY remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
Resistances levels are at: Y131.25, Y132.00, Y133.00
Support levels are at: Y129.95, Y128.35, Y127.80
Probably, the main scenario is continued growth towards Y131.25 (Apr 28 high).
Alternative scenario is consolidation below MA 200 H1, followed by decline to Y126.25 (Apr 18 low).
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