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- USD/JPY is still testing MA 200 H1 support
USD/JPY is still testing MA 200 H1 support
Yesterday the USD/JPY traded down and closed the day in the red zone near the price of Y129.95. Today it fell a little, dropping to Y129.50. On the hourly chart, USD/JPY is still testing the strength of the support - the moving average line MA (200) H1 (Y130.15). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading, and as long as the USD/JPY remains above MA 200 H1, it may be necessary to look for entry points to buy at the end of the correction.
Resistances levels are at: Y130.80-90, Y131.30, Y132.00
Support levels are at: Y129.45, Y128.60-75, Y127.80
Probably, the main scenario is continued growth towards Y130.80 (May 11 high).
An alternative scenario is fixing below MA 200 H1, followed by a decline to Y127.80 (low of the American session on Apr 27).
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