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- The USD/JPY fell sharply
The USD/JPY fell sharply
Yesterday USD/JPY traded higher and closed the day in the positive territory around 146.25. Today it fell sharply, falling to 145.30. On the hourly chart USD/JPY is still trading below the moving average line MA (200) H1 (146.90). On the four-hour chart the situation is similar. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
- Resistance levels are at: 146.50, 146.90, 147.35
- Support levels are at: 145.00, 144.45, 144.05
Probably, the main scenario is the resumption of the downward movement to 145.00 (Aug 22 low).
The alternative scenario suggests consolidation above MA 200 H1, with subsequent growth to 149.35 (Aug 15 high).
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