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- USD/JPY is testing the strength of MA (200) H1
USD/JPY is testing the strength of MA (200) H1
Today, the USD/JPY pair is mainly growing in the range of 147.80-149.05. The hourly chart shows an attempt at upward movement after the breakdown of the MA (200) H1 moving average line, which may indicate a change in the medium-term trend. However, at the moment, the price is testing resistance at 149.20–35, and consolidation above this zone will pave the way to the next important level of 150.20. In the event of a pullback, the nearest support is the 147.41–146.53 zone, from which growth may resume. The MACD indicator shows a confident positive momentum, confirming the current upward trend. If the price fails to overcome 149.35, a downward correction is possible, but for now the overall market sentiment remains bullish.
Resistance levels are: 149.20-35, 150.20, 151.30
Support levels are: 147.40, 146.55, 145.90
The main scenario for the pair's advance still implies a decline to 147.40 (March 13 low) and then maybe to 146.55 (March 11 low)
An alternative scenario assumes a breakout of 149.20-35 (March 6 and 12 highs) and there may be an increase to 150.20 (March 5 high)
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