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- USD/JPY remains below the MA (200) Н1.
USD/JPY remains below the MA (200) Н1.
The USD/JPY pair is mostly rising today from 147.25 to 148.05 after declining last week to a one-month low of 146.50. On the hourly chart, USD/JPY remains below the MA (200) H1 (148.70) moving average line and on the four-hour chart below the MA (200) H4 (149.10). Technically speaking, the resistance level at 148.30 may keep prices from rising further. If it is broken, the pair may rise to 150.10. The lower boundary of 146.50 represents a strong support level.
⦁ Resistance levels are: 148.30, 148.70, 150.10
⦁ Support levels are: 147.25, 146.50, 145.90
The main scenario of the pair's advance assumes a break of the session low of 147.25 and there could be a decline to 146.50 (March 8 low).
The alternative scenario implies a break of resistance at 148.30 (high of the US session on March 7) and a possible rise to 150.10 (March 6 high).
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