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- USD/JPY is trading near a 6-month high
USD/JPY is trading near a 6-month high
Today, the USD/JPY pair is trading in the range of Y140.00-45 - slightly below the 6-month high of Y140.95 reached last week. On the hourly chart, the pair rose slightly above the moving average line MA (200) H1 (Y139.70). On the four-hour chart, the pair remains above MA (200) H4 (Y136.65). Technically speaking, the resistance of Y140.95 can keep prices from further growth. The lower bound of Y140.95 represents the resistance level.
⦁ Resistance levels are: Y140.95, Y141.65, Y142.50
⦁ Support levels are: Y139.70, Y138.20-40, Y137.30
The main scenario of the pair's promotion assumes a breakout of the resistance of Y139.95 (June 1 high) and there may be an increase to Y140.95 (May 29-30 high)
An alternative scenario assumes a breakthrough of MA (200) H1 (Y139.70) and may be a decline to Y138.20-40 (May 23-24 and June 1 lows)
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