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- USD/JP rose to a 7-month high
USD/JP rose to a 7-month high
Today, the USD/JPY pair is mainly growing from Y139.85 to Y141.40, having regained all the positions lost during yesterday's US trading. The pair is trading near the 7-month high of Y141.50 reached yesterday. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y139.80) and on the four-hour chart above MA (200) H4 (Y138.05). Technically speaking, the resistance Y141.50-60 can keep prices from further growth. The lower bound of Y139.30 represents the support level.
⦁ Resistance levels are: Y141.50-60, Y142.25-45, Y145.15
⦁ Support levels are: Y139.80-85, Y139.30, Y138.75
The main scenario of the pair's promotion assumes a breakout of the resistance Y141.50-60 (November 23’ 2022 high, June 15 high) and there may be an increase to Y142.25-45 (November 11 and 22-23’ 2022 high)
An alternative scenario assumes a breakout of the session minimum of Y139.85 and MA (200) H1 (Y139.80) and there may be a decline to 139.30 (June 14 low)
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