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- USD/JPY remains above the MA (200) H1
USD/JPY remains above the MA (200) H1
Today, the USD/JPY pair is mostly down from 148.50 to 147.70, losing almost all the ground gained during yesterday's US trading. The pair remains near the 11-month high. On the hourly chart, the pair remains above the H1 MA (200) moving average line (147.50). And on the four-hour chart, above the MA (200) H4 (146.15). Technically speaking, resistance at 148.50 may keep prices from rising further. If this level is passed, the pair could rise to 148.95. The lower boundary of 147.50 represents a support level.
⦁ Resistance levels are: 148.50, 148.95, 149.60
⦁ Support levels are: 147.50, 147.00, 145.90
The main scenario for the pair suggests a break of the session high of 148.50 and there could be a rise to 148.95 (Oct 31’ 2022 high).
The alternative scenario implies a break of 147.50 (Sept 19 low, MA (200) H1) and there could be a decline to 147.00 (Sept 14 low).
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