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- USD/JPY dropped to the lowest value since the beginning of the year
USD/JPY dropped to the lowest value since the beginning of the year
Today, the USD/JPY pair is mainly declining from 141.90 to 140.30, having reached a new minimum value since the beginning of the year of 140.30. On the hourly chart, the pair fell below the moving average line MA (200) H1 (143.25) and on the four-hour chart below MA (200) H4 (145.80). Technically speaking, the support of 140.25 can keep USD/JPY from further decline. If this level is broken, the pair may fall to 138.10. The upper limit of 144.25 represents a strong resistance level.
⦁ Resistance levels are: 143.10, 144.25, 145.60
⦁ Support levels are: 140.25. 138.10, 137.25
The main scenario for the pair's promotion assumes a breakout of support at 140.70 (Sept 11 low) and may be a decrease to 138.10 (July 28’ 2023 low)
An alternative scenario implies a breakout of the resistance of 143.10 (Sept 12 high) and there may be an increase to 144.25 (Sept 5 high)
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