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- USD/JPY is declining, but remains near a 4-month high
USD/JPY is declining, but remains near a 4-month high
Today, the USD/JPY pair is mainly declining from 156.80 to 155.20, while remaining near a 4-month high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (154.10) and on the four-hour chart above MA (200) H4 (151.10). Technically speaking, the resistance of 156.80 has so far kept USD/JPY from further growth. If this level is broken, the pair may rise to 157.90. The lower limit of 153.35 represents a strong support level.
⦁ Resistance levels are: 156.80, 157.90, 159.50
⦁ Support levels are: 155.20. 154.10-35, 153.40
The main scenario for the pair's promotion assumes a breakout of the session high of 156.80 and may be an increase to 157.90 (July 19 high)
An alternative scenario implies a breakout of the session minimum of 155.20 and may be a decrease to 154.10-35 (Nov 13 low, MA (200) H1)
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