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- The USD/JPY has risen sharply again
The USD/JPY has risen sharply again
Yesterday, the USD/JPY traded higher and closed the day in the positive territory near 149.20. Today, it has risen sharply again, rising to 149.75. On the hourly chart, USD/JPY has consolidated above the moving average line MA (200) H1 (148.05). On the four-hour chart, the pair is still below the MA 200 H4 line. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
- Resistance levels are at: 149.75, 150.20-30, 151.30
- Support levels are at: 149.05, 148.30-40, 147.40
Probably, the main scenario is a continuation of the upward movement to 149.75 (session high).
An alternative scenario suggests consolidation above MA 200 H1, followed by a decline to 146.55 (Mar 11 low).
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