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- USD/JPY is trading near a 4-month low
USD/JPY is trading near a 4-month low
Today, the USD/JPY pair is trading in the range of 148.60-149.80 - near the 4-month low of 148.50 reached yesterday. On the hourly chart, USD/JPY fell below the moving average line MA (200) H1 (153.00) and on the four-hour chart remains below MA (200) H4 (157.75). Technically speaking, the support of 148.50 has so far kept USD/JPY from further decline. In case of breaking through this level, the pair may fall to 148.00. The upper limit of 155.30 represents a strong resistance level.
⦁ Resistance levels are: 151.00, 153.00, 155.30
⦁ Support levels are: 148.50, 148.00, 147.25
The main scenario for the pair's promotion assumes a breakout of support at 148.50 (Aug 1 low) and may be a decrease to 148.00 (March 15 low)
An alternative scenario implies a breakout of the resistance of 151.00 (Aug 1 high) and MA (200) H1 (153.00) and there may be an increase to 155.30 (July 30 high)
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