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- The USD/JPY rose slightly
The USD/JPY rose slightly
Yesterday, the USD/JPY traded downwards and closed the day in the red zone near the price of 149.50. Today it, on the contrary, rose slightly, rising to the mark of 150.15. On the hourly chart USD/JPY is still trading below the moving average line MA (200) H1 (151.95). On the four-hour chart the situation is similar. 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 selling to form a correction.
- Resistance levels are at: 150.20, 150.75, 151.55
- Support levels are at: 148.65, 148.40, 148.20
Probably, the main scenario is the continuation of the downward movement to 148.65 (Dec 3 low).
The alternative scenario suggests consolidation above MA 200 H1, followed by growth to 155.25 (Nov 21 high).
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