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- USD/JPY remains above MA (200) H1
USD/JPY remains above MA (200) H1
Today, the USD/JPY pair is trading near the level of 149.85, demonstrating an upward trend after a pullback to the area of 148.15. The price is above the MA (200) H1 moving average line (148.90), which confirms the overall bullish market sentiment. The nearest resistance is located around 150.20, the breakdown of which may open the way to 151.30. Support is at 148.90, its breakdown will increase the pressure on the asset with a possible decline to 148.15 and further to 147.40. The MACD indicator shows weak bullish dynamics, which indicates a possible continuation of growth, but with the risk of a short-term correction.
Resistance levels are: 150.20, 151.30, 152.30
Support levels are: 148.90, 148.20, 147.40
The main scenario for the pair's advance implies a breakout of the resistance of 150.20 (March 5 and 19 high) and there may be an increase to 151.30 (March 3 high)
An alternative scenario assumes a breakout of MA (200) H1 (148.90) and there may be a decline to 148.20 (March 20 low)
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