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- USD/JPY is trading near the lows of the end of July 2023
USD/JPY is trading near the lows of the end of July 2023
Today, the USD/JPY pair is trading in the range of 140.30-142.25 after falling yesterday to the lowest value since the end of July 2023 of 139.60. On the hourly chart, the pair fell below the moving average line MA (200) H1 (142.15) and on the four-hour chart below MA (200) H4 (145.15). Technically speaking, the support of 139.60 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: 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 support at 139.60 (Sept 16 low) and may be a decrease to 138.10 (July 28’ 2023 low)
An alternative scenario implies a breakout of the session high of 141.25 and resistance of 143.05 (Sept 12 high) and there may be an increase to 144.25 (Sept 5 high)
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