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- The USD/JPY continued yesterday's decline
The USD/JPY continued yesterday's decline
Yesterday, the USD/JPY traded lower and closed the day in the red zone near 147.15. Today it also fell slightly, falling to 146.55. On the hourly chart, USD/JPY is still trading below the moving average line MA (200) H1 (148.90). 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: 147.80, 148.20-40, 149.30
- Support levels are at: 146.55, 145.90, 143.45
Probably, the main scenario is a continuation of the downward movement to 146.55 (session low).
An alternative scenario suggests consolidation above MA 200 H1, with subsequent growth to 151.30 (Mar 3 high).
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