- Analytics
- Market analysis
- Technical Analysis
- The USD/JPY pair is trading near a 6-month high
The USD/JPY pair is trading near a 6-month high
Yesterday, the USD/JPY pair was trading multidirectionally in the range of 157.90-158.55 (about a 6-month high) and closed the session near the price of 158.30. Today, the pair started trading mostly lower, dropping to around 157.75. On the hourly chart, USD/JPY rose slightly above the MA (200) H1 moving average line (157.55) and above the MA 200 H4 line (154.20) on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and as long as the pair remains above the MA 200 H1, it is necessary to look for entry points to buy at the end of the correction.
Resistance levels are at: 158.55-80, 159.50, 161.80
Support levels are at: 157.35-55, 156.00-25, 154.45
The main scenario for the pair's progress is a breakout of the resistance of 158.55-80 (July 16 and Jan 7 high) and there may be an increase to 159.50 (July 12’ 2024 high)
An alternative scenario assumes a breakout of the support of 157.35-55 (Jan 7 low, MA (200) H1), followed by a likely fall to 156.00-25 (Dec 31 and Jan 6 low).
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
