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- USD/JPY is trading near a historical high
USD/JPY is trading near a historical high
Today, the USD/JPY pair is trading in the range of 154.75-95 - near the historical maximum and slightly below the psychological level of 155.00. On the hourly chart, the pair is trading slightly above the moving average line of MA (200) H1 (154.40) and on the four-hour chart above MA (200) H4 (151.55). Technically speaking, the resistance level of 155.00 can keep prices from further growth. If it breaks through, the pair may rise to the psychological level of 156.00. The lower limit of 152.60 represents a strong support level.
It is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the level of 70, which signals a possible change in the direction of price movement.
⦁ Resistance levels are: 155.00, 157.00, 157.00
⦁ Support levels are: 154.40-55, 153.60, 152.60
The main scenario of the pair's promotion involves a breakthrough of the psychological level of 155.00 and may be an increase to the psychological level of 156.00
An alternative scenario implies a breakout of the support of 154.40-55 (April 23 low, MA (200) H1) and there may be a decrease to 153.60 (April 19 low)
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