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- USD/JPY declines, but remains above MA (200) H1
USD/JPY declines, but remains above MA (200) H1
Today, the USD/JPY pair is mainly declining from 151.00 to 150.05, but it demonstrates an overall upward trend, confidently overcoming the level of 150. The movement is supported by the MA (200) H1 moving average line (149.15), which acts as a dynamic support. At the moment, the price is showing a corrective decline from the recent local high around 151.00, but remains bullish. The MACD indicator signals a possible correction, as its histogram began to shrink after the previous rise, indicating a weakening of momentum. However, as long as the price holds above 149.15, the main scenario remains bullish. Consolidation above 151.00 may lead to a continuation of the upward movement.
Resistance levels are: 151.00, 151.30, 152.30
Support levels are: 149.50, 148.60, 148.15
The main scenario for the pair's advance implies an increase to the session high of 151.00 and then, maybe, to 151.30 (March 3 high)
An alternative scenario assumes a breakout of the support 149.50 (March 24 high), a decline to MA (200) H1 (149.15) and beyond that. maybe by 148.60 (March 21 low)
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