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- USD/JPY fell to the lows of the end of July 2023
USD/JPY fell to the lows of the end of July 2023
Today, the USD/JPY pair is mainly declining from 140.90 to 139.60, having reached the lows of the end of July 2023. On the hourly chart, the pair fell below the moving average line MA (200) H1 (142.60) and on the four-hour chart below MA (200) H4 (145.40). Technically speaking, the support of 138.10 can keep USD/JPY from further decline. If this level is broken, the pair may fall to 137.25. The upper limit of 144.25 represents a strong resistance level.
⦁ Resistance levels are: 141.45, 143.05, 144.25
⦁ Support levels are: 139.60. 138.10, 137.25
The main scenario for the pair's promotion assumes a breakout of the session low of 139.60 and may be a decrease to 138.10 (July 28’ 2023 lows)
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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