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- USD/JPY is trading near a 4-month high
USD/JPY is trading near a 4-month high
Today, the USD/JPY pair is trading in the range of 151.05-40, remaining near the 4-month high of 151.90 reached last week. On the hourly chart, the pair rose above the moving average line MA (200) H1 (149.90) and on the four-hour chart above MA (200) H4 (149.70). Technically speaking, the resistance level of 151.95 can keep prices from further growth. If it breaks through, the pair may rise to 153.00. The lower limit of 150.30 represents a strong support level.
⦁ Resistance levels are: 151.90-95, 153.00, 154.00
⦁ Support levels are: 151.00, 150.30, 148.90
The main scenario of the pair's promotion assumes a breakout of the resistance of 151.90-95 (Nov 14 and March 22 highs) and there may be an increase to the psychological level of 153.00
An alternative scenario implies a breakout of the support of 151.00 (March 22 low) and may be a decrease to 150.30 (March 21 low)
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