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- USD/JPY is testing the MA (200) H1.
USD/JPY is testing the MA (200) H1.
Today, the USD/JPY pair is trading in the 150.50-80 range after declining yesterday to the weekly low of 150.15. On the hourly chart, the pair is testing the moving average line of the MA (200) H1 (150.75), but on the four-hour chart it remains above the MA (200) H4 (149.90). Technically speaking, the support at 150.15 may keep prices from further declines. If this level is breached, the pair may drop to 149.15. The upper boundary of 152.00 represents a resistance level.
⦁ Resistance levels are: 150.80, 151.90-152.00, 153.00
⦁ Support levels are: 150.15, 149.15, 148.80
The main scenario for the pair suggests a break of the session high of 150.80 and there could be a rise to 151.90-152.00 (Oct 21’ 2022 high and Nov 13 high).
The alternative scenario implies a break of the support at 150.15 (Nov 14 low) and there could be a decline to 149.15 (Nov 3 low).
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