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- USD/JPY is trading at a 6-week high.
USD/JPY is trading at a 6-week high.
Today, the USD/JPY pair is trading in the range of 157.60-95 - slightly below the 6-week high of 158.30 recorded earlier on Friday. On the hourly chart, the pair remains above the moving average line MA (200) H1 (157.20) and on the four-hour chart above MA (200) H4 (156.25). Technically speaking, the resistance level of 158.30 kept the pair from further growth. If it breaks through, the pair is likely to rise to 160.20. The lower limit of 155.70 represents a strong support level.
⦁ Resistance levels are: 158.30, 160.20, 161.00
⦁ Support levels are: 157.20, 156.60, 155.70
The main scenario for the pair's promotion assumes a breakout of resistance at 158.30 (June 14 high) and may be an increase to 160.20 (April 29 high)
An alternative scenario implies a breakout of the support of 157.20 (June 17 low, MA (200) H1) and the support of 156.60 (June 13 low) and there may be a decrease to 155.170 (June 12 low)
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