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- USD/JPY continues Friday's rise
USD/JPY continues Friday's rise
On Friday, the USD/JPY traded higher and closed the day in positive territory near the price of Y130.60. Today it has also slightly increased, having risen to the level of Y131.05. On the hourly chart, USD/JPY is still trading above the moving average MA (200) H1 (Y129.80). 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: Y130.15, Y129.55, Y128.60-75
Probably, the main scenario is continued growth towards Y131.25 (Apr 28 high).
Alternative scenario is consolidation below MA 200 H1, followed by a decline to Y126.95 (Apr 27 low).
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