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- USD/JPY fell below the MA (200) H1
USD/JPY fell below the MA (200) H1
Today, the USD/JPY pair is trading in the 140.95-142.95 range, having reached a near 5-month low in early trading. On the hourly chart, the pair fell below the H1 MA (200) H1 moving average line (145.55) and remains below the H4 MA (200) H4 (148.60) on the four-hour chart. Technically speaking, the support level of 140.95 may keep prices from further decline. In case it is broken, the pair may drop to 138.10. The upper boundary of 147.50 represents a resistance level.
⦁ Resistance levels are: 146.00-50, 147.50, 148.50
⦁ Support levels are: 140.95, 138.10, 137.25
The main scenario for the pair suggests a break of the session high of 140.95 and a possible decline to 138.10 (July 28 low)
The alternative scenario implies growth to 138.10 (Dec 11-13 low).
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