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- USD/JPY remains below MA (200) H1
USD/JPY remains below MA (200) H1
Today, the USD/JPY pair is mainly declining from 150.00 to 149.25. A downward correction is observed on the hourly chart after testing the resistance level around 150.30. The pair retreated from the MA (200) H1 (150.00) moving average line down, which is a bearish signal. The MACD indicator shows weak recovery dynamics after a significant decline, the histogram is below zero, which confirms the selling pressure. The nearest support is located in the 148.70 zone, with its breakdown, a further decline to 148.15 and 147.40 is possible. The resistance is at the level of 150.00, its breakdown may resume the uptrend. The overall picture indicates a possible continuation of the decline if buyers do not return the price above 150.00.
Resistance levels are: 150.00-30, 151.20-30, 152.30
Support levels are: 148.70, 148.15, 147.40
The main scenario for the pair's advance implies a breakout of the resistance of 150.00-30 (March 31 high, МА (200) Н1) and there may be an increase to (151.20-30 (March 3 and 28 highs)
An alternative scenario suggests a breakout of 148.70 (March 31 low) and there may be a decline to 148.15 (March 20 low)
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