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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 in the range of 149.85-150.60 and demonstrates an overall upward trend. At the same time, the price is confidently holding above the MA (200) H1 moving average line (149.40), which confirms the predominance of buyers. The level of 150.60 is the nearest resistance, the breakdown of which will open the way to 151.00 and 151.30. In the case of a correction, support is at 149.55, with its breakdown, a test of the 149.40 level is possible. The MACD indicator shows a decrease in the histogram, which may indicate a weakening of the bullish momentum and a possible short-term correction. However, as long as the price remains above the 200-period average, the overall uptrend remains relevant.
Resistance levels are: 150.60, 151.00, 151.30
Support levels are: 149.40-55, 148.60, 148.15
The main scenario for the pair's advance implies a breakout of the session high of 150.60 and there may be an increase to 151.00 (March 25 high)
The alternative scenario assumes a breakout of the support of 149.55 (March 25 low), a decline to MA (200) H1 (149.40) and beyond that maybe by 148.60 (March 21 low)
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