Today, the USD/JPY pair fell sharply from 150.00 to 148.10, hitting a 7-week low. On the hourly chart, USD/JPY fell below the H1 MA (200) H1 moving average line (150.85) and on the four-hour chart below the H4 MA (200) H4 (150.00). Technically speaking, the support at 149.15 may keep prices from further declines. If this level is passed, the pair could fall to 148.80. The upper boundary of 151.45 represents a resistance level.
⦁ Resistance levels are: 150.00, 150.80, 151.45
⦁ Support levels are: 148.10, 147.30, 147.00
The main scenario for the pair suggests a break of the session low of 148.10 and a possible decline to 147.30 (Sept 20 low).
The alternative scenario implies a breakout of the session high of 150.00 and may be a rise to 150.80 (Nov 17 high)
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