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- USD/JPY is trading slightly above the MA (200) H1.
USD/JPY is trading slightly above the MA (200) H1.
Today, the USD/JPY pair is trading in the 151.10-45 range after declining yesterday to a weekly low of 150.05. On the hourly chart, the pair moved slightly above the H1 MA (200) H1 moving average line (150.90) and on the four-hour chart, the pair remains above the H4 MA (200) H4 (150.00). Technically speaking, resistance at 151.45 may keep prices from rising further. If this level is passed, the pair could rise to 152.00. The lower boundary of 150.05 represents a support level.
⦁ Resistance levels are: 151.45, 151.90-152.00, 153.00
⦁ Support levels are: 150.90, 150.05, 149.15
The main scenario for the pair's advance involves a break of 151.45 resistance (Nov 15 high, session high) 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 H1 MA (200) (150.90) and there could be a decline to 150.05 (Nov 15 low).
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