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- USD/JPY rose to a 5-month high
USD/JPY rose to a 5-month high
Today, the USD/JPY pair is mainly growing from 154.50 to 157.15, reaching a 5-month high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (154.50) and on the four-hour chart above MA (200) H4 (152.90). Technically speaking, the resistance of 157.15 has so far kept USD/JPY from further growth. If this level is broken, the pair may rise to 158.80. The lower limit of 153.10 represents a strong support level.
⦁ Resistance levels are: 157.15, 158.80, 159.50
⦁ Support levels are: 154.50, 153.10, 151.80
The main scenario for the pair's promotion assumes a breakout of the session high of 157.15 and there may be an increase to 158.80 (July 16 high).
An alternative scenario implies a decrease to 154.50 (Dec 16 high, session minimum) and there may be a decrease of 153.10 (Dec 17 low).
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