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- The USD/JPY continued yesterday's growth
The USD/JPY continued yesterday's growth
Yesterday, the USD/JPY traded higher and closed the day in the positive territory near 154.65. Today it also rose slightly, rising to 155.10. On the hourly chart, USD/JPY is still trading above the moving average line MA (200) H1 (154.45). On the four-hour chart, the situation is similar. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
- Resistance levels are at: 155.35, 155.75, 156.75
- Support levels are at: 153.30-40, 152.55, 152.15
Probably, the main scenario is a continuation of the upward movement to 155.35 (Nov 18 high).
The alternative scenario suggests consolidation below MA 200 H1, followed by a fall to 152.15 (Nov 8 low).
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