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- USD/JPY is trading near a 3-month high.
USD/JPY is trading near a 3-month high.
The USD/JPY pair is trading in the 150.30-80 range today, after hitting a 3-month high of 150.90 yesterday. On the hourly chart, USD/JPY moved above the H1 MA (200) H1 moving average line (148.90) and on the 4-hour chart above the H4 MA (200) H4 (146.65). Technically speaking, the resistance level at 150.90 may keep prices from rising further. In case it is broken, the pair may rise to 151.45. The lower boundary of 148.90 represents a support level.
⦁ Resistance levels are: 150.90, 151.45, 151.95
⦁ Support levels are: 150.30, 148.90, 147.60
The main scenario for the pair suggests a break of resistance at 150.90 (Feb 13 high) and maybe a rise to 151.45 (Nov 15-16 high)
The alternative scenario implies a break of the session low of 150.30 and a possible decline to 148.90 (Feb 12 low, MA (200) H1).
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