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- The USD/JPY remains above MA 200 H1
The USD/JPY remains above MA 200 H1
Yesterday, the USD/JPY traded in different directions in the range of 161.25-75 and closed the day without significant changes. Today the pair grew slightly, rising to 161.65. On the hourly chart, USD/JPY is still trading above the moving average line MA (200) H1 (160.35). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above the MA 200 H1, may be need to look for entry points to buy when a correction is formed.
- Resistances levels are at: 161.75, 162.00, 163.00
- Support levels are at: 161.25, 160.85-95, 160.25
Probably, the main scenario is continued growth to 161.75 (Jul 2 high).
The alternative scenario is consolidation below MA 200 H1, followed by a decline to 157.60 (Jun 19 low).
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