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- The USD/JPY continued yesterday's growth
The USD/JPY continued yesterday's growth
Yesterday, the USD/JPY traded higher and closed the day in the positive territory near 150.65. Today, it also rose slightly, rising to 150.95. On the hourly chart, USD/JPY is still trading above the moving average line MA (200) H1 (149.05). The situation is similar on the four-hour chart. 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 to form a correction.
- Resistance levels are at 150.95, 151.30, 151.85
- Support levels are at 149.50, 149.15, 148.60
Probably, the main scenario is to continue the upward movement to 150.95 (session high).
An alternative scenario suggests consolidation below MA 200 H1, followed by a decline to 147.40 (Mar 13 low).
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