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- USD/JPY is trading near a one-month high
USD/JPY is trading near a one-month high
Today, the USD/JPY pair is trading in the range of 145.90-146.95 after reaching a monthly high of 147.25 yesterday. On the hourly chart, the pair rose above the moving average line MA (200) H1 (144.50). The situation is similar on the four-hour chart. Technically speaking, the resistance of 147.25 is still keeping USD/JPY from further growth. If this level is broken, the pair may rise to 148.25. The lower limit of 142.95 represents a strong support level.
⦁ Resistance levels are: 147.25, 148.25, 149.40
⦁ Support levels are: 145.90. 144.50, 142.95
The main scenario for the pair's promotion assumes a breakout of the resistance of 147.25 (Sept 2-3, Oct 3 high) and there may be an increase to 148.25 (Aug 12 high).
An alternative scenario implies a breakout of the session minimum of 145.90, a decrease to MA (200) H1 (144.50) and then, perhaps, to 142.95 (Oct 1 low).
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