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- USD/JPY is testing MA (200) H1
USD/JPY is testing MA (200) H1
Today, the USD/JPY pair is trading in the range of 151.55-152.60 - slightly below the 3-month high of 153.90 reached last week. On the hourly chart, the pair is testing the moving average line MA (200) H1 (152.60) and on the four-hour chart it remains above MA (200) H4 (148.30). Technically speaking, the support of 151.45 can keep USD/JPY from further decline. If this level is broken, the pair may fall to 150.50. The upper limit of 153.90 represents a strong resistance level.
⦁ Resistance levels are: 153.10, 153.90, 155.55
⦁ Support levels are: 151.45. 150.50, 148.85
The main scenario for the pair's promotion assumes an increase to 153.10 (Nov 1 high) and there may be an increase to 153.90 (Oct 28 high)
An alternative scenario implies a breakout of the support of 151.45 (Oct 25 low) and may be a decrease to 150.50 (Oct 22 low).
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