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- USD/JPY rose slightly above MA (200) H1
USD/JPY rose slightly above MA (200) H1
Today, the USD/JPY pair is trading in the range of 156.20-55 and on the hourly chart has risen slightly above the moving average line MA (200) H1 (154.95). On the four-hour chart, the pair rose slightly above MA (200) H4 (154.10). Technically speaking, the resistance level of 158.00 can keep prices from further growth. If it breaks through, the pair may rise to 160.20. The lower limit of 151.90 represents a strong support level.
⦁ Resistance levels are: 158.00, 160.20, 161.00
⦁ Support levels are: 154.95-155.25, 153.00, 151.90
The main scenario for the pair's promotion assumes a breakout of the support of 154.95-155.25 (May 9-10 low, MA (200) H1) and 153.00 (May 1 low) and there may be a decrease to 151.90 (May 3 low)
An alternative scenario implies a breakout of the resistance of 158.00 (May 1 high) and may be an increase to 160.20 (April 29 high)
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