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- USD/JPY is trading near a 9-month high
USD/JPY is trading near a 9-month high
The USD/JPY pair is mostly down from 146.60 to 145.85 today, but remains near the 9-month high. On the hourly chart, the pair is trading above the MA (200) H1 moving average line (144.40) and on the four-hour chart above the MA (200) H4 (142.20). Technically speaking, the resistance level at 146.60 may keep prices from rising further. If broken, prices could rise to 147.65. The lower boundary of 144.40 represents a strong support level.
⦁ Resistance levels are: 146.70, 147.65, 148.95
⦁ Support levels are: 145.10. 144.40, 143.25
The main scenario for the pair's advance suggests a break of the session high of 146.70 and there could be a rise to 147.65 (Nov 7, 2022 high).
The alternative scenario implies a break of support at 145.10 (Aug 15 low) and may be a decline to 144.40 (Aug 11 low)
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