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- USD/JPY dropped to a one-month low
USD/JPY dropped to a one-month low
Today, the USD/JPY pair is trading in the range of 142.10-143.50 - about a one-month low. On the hourly chart, the pair fell slightly below the moving average line MA (200) H1 (144.85 and on the four-hour chart below MA (200) H4 (147.50). Technically speaking, the support of 141.70 can keep USD/JPY from further decline. If this level is broken, the pair may fall to 140.25. The upper limit of 147.25 represents a strong resistance level.
⦁ Resistance levels are: 144.20, 145.60, 147.25
⦁ Support levels are: 142.10 141.70, 140.25
The main scenario for the pair's promotion assumes a breakout of the session low of 142.10 and may be a decrease to 141.70 (Aug 5 low)
An alternative scenario implies a breakout of the resistance of 144.20 (Sept 5 high) and 145.60 (Sept 4 high) and there may be an increase to 147.25 (Sep 2-3 high)
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