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- The USD/JPY continued yesterday's rise
The USD/JPY continued yesterday's rise
Yesterday, USD/JPY traded higher and closed the day in the positive territory near 143.55. Today it also rose slightly, rising to 144.35. On the hourly chart, USD/JPY is testing resistance - the moving average line MA (200) H1 (143.60). The situation is similar on the four-hour chart. 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 for sale at the end of the correction.
- Resistance levels are at: 145.20, 146.50, 147.20-35
- Support levels are at: 142.95, 142.40, 141.65
Probably, the main scenario is a continuation of the downward movement to 142.95 (low of the American session on Sep 30).
The alternative scenario is consolidation above MA 200 H1, with subsequent growth to 146.50 (Sep 27 high).
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