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- USD/JPY drops to 6-month low
USD/JPY drops to 6-month low
Today, on the hourly chart, the USD/JPY pair shows a rapid decline after breaking through the level and leaving below the MA (200) H1 moving average line (148.90). The price fell below 147.40, testing the level of 146.05. This decline is accompanied by an increase in bearish momentum, which is confirmed by the red MACD histogram, indicating increasing selling pressure. If the downtrend continues, the nearest support is around 145.90, the breakdown of which may strengthen the decline. In the case of an upward correction, the resistance zone is located at 147.40, overcoming which may lead to a return to the range of 148.15 -148.70.
Resistance levels are: 147.40, 148.15, 148.70
Support levels are: 145.90, 142.95, 141.65
The main scenario for the pair's advance implies a breakout of the support 145.90 (Oct 4 low) and a possible decline to 142.95 (Oct 1 low)
The alternative scenario assumes an increase to 147.40 (March 13 low) and there may be an increase to 148.15 (March 20 low)
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