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- USD/JPY is growing and testing MA (200) H1
USD/JPY is growing and testing MA (200) H1
On the hourly chart, the USD/JPY pair shows an attempt to break out of the downtrend, as the price is testing the MA (200) H1 moving average line (148.65). The pair is mainly growing in the range of 147.75-148.80. The MACD histogram shows a confident upward trend, which confirms the current growth. If the price overcomes 149.35, an increase to 150.20 is possible. In case of a downward reversal, the key support is 148.10. The overall trend remains bearish for now, but there is a possibility of a change towards a bullish trend.
Resistance levels are: 149.35, 150.20, 151.30
Support levels are: 148.10, 146.55, 145.90
The main scenario for the pair's advance still implies a decline of 148.10 (March 4 low) and then maybe to 146.55 (March 11 low)
The alternative scenario assumes an increase to 149.35 (March 6 high) and then maybe to 150.20 (March 5 high)
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