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- USD/JPY is declining and testing MA (200) H1
USD/JPY is declining and testing MA (200) H1
Today, the USD/JPY pair is mainly declining from 148.10 to 145.20 and is testing the MA (200) H1 (147.35) moving average line on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 (153.45). Technically speaking, the support of 145.20 is still keeping USD/JPY from further decline. If this level is broken, the pair may fall to 141.70. The upper limit of 151.00 represents a strong resistance level.
⦁ Resistance levels are: 149.45, 151.00, 153.95
⦁ Support levels are: 145.20, 141.70, 140.25
The main scenario for the pair's promotion assumes a breakout of the session low of 145.20 and may be a decrease to 141.70 (Aug 5 low)
An alternative scenario implies a breakout of the resistance of 149.45 (Aug 15 high) and there may be an increase to 151.00 (Aug 1 high)
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