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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 149.70-150.55 after falling last week to a 7-week low of 148.65. On the hourly chart, the pair is testing the MA (200) H1 (151.50) moving average line, but on the four-hour chart it is trading below MA (200) H4 (152.75). Technically speaking, the support of 149.35 has so far kept USD/JPY from declining. If this level is broken, the pair may fall to 148.70. The upper limit of 152.00 represents a strong resistance level. The most likely range of the pair's movement for today may be hidden within the existing range of 148.65-152.00.
⦁ Resistance levels are: 151.25, 152.00, 153.30
⦁ Support levels are: 149.35, 148.65, 148.20
The main scenario for the pair's promotion assumes a breakout of the support of 149.35 (Dec 6 low) and there may be a decrease to 148.65 (Dec 3 low)
An alternative scenario implies a breakout of the resistance of 151.25 (Dec 4 high) and there may be an increase to 152.00 (Nov 28 high)
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