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- Technical Analysis
- USD/JPY is trading near a near 5-month low.
USD/JPY is trading near a near 5-month low.
The USD/JPY pair is trading in a 142.00-90 range today, after hitting an almost 5-month low of 140.95 last week. On the hourly chart, the pair has dipped below the H1 MA (200) H1 moving average line (144.40) and remains below the H4 MA (200) H4 (148.15) 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 146.60 represents a resistance level.
⦁ Resistance levels are: 142.55, 145.00, 146.60
⦁ Support levels are: 140.95, 138.10, 137.25
The main scenario for the pair suggests a break of the support at 140.95 (Dec 14 low) and a decline to 138.10 (July 28 low).
Alternative scenario implies a break of MA (200) H1 (144.40) may be a rise to 146.60 (Dec 11 high).
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