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- USD/JPY is testing MA (200) H1
USD/JPY is testing MA (200) H1
Today, the USD/JPY pair is trading in the range of 146.70-148.00 after falling this week to a 5-month low of 141.70. On the hourly chart, USD/JPY is testing the MA (200) H1 (148.00) moving average line, but on the four-hour chart it remains below MA (200) H4 (155.90). In this situation, the scenario of a further decline in the USD/JPY pair is likely. Technically speaking, the resistance of 148.00 may keep USD/JPY from further growth. If this level is broken, the pair may rise to 151.00. The lower limit of 141.70 represents a strong support level.
⦁ Resistance levels are: 148.00, 151.00, 155.30
⦁ Support levels are: 145.45, 141.70, 140.25
The main scenario for the pair's promotion assumes a breakout of support at 145.45 (Aug 8 low) and may be a decrease to 141.70 (Aug 5 low)
An alternative scenario implies a breakout of the resistance of 148.00 (Aug 8 high, session maximum of MA (200) H1) and there may be an increase to 151.00 (Aug 1 high)
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