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- USD/JPY drops to 6-month low
USD/JPY drops to 6-month low
Today, the hourly chart of the USD/JPY pair shows a sharp decline in price after the breakdown of the 149.35 level, which led to an acceleration of the downward trend. The price broke through several support levels, including 148.70, 148.15, 147.40 and 146.55, and reached the 145.05 zone. The current price is trading below the MA (200) H1 moving average line (149.35), which indicates the continuation of the bearish momentum. The MACD indicator shows a gradual recovery of the histogram after an extreme drop, but there is no signal for a reversal yet. With a further decline, the immediate target is the 144.55 level, while the resistance remains the 146.55 zone.
Resistance levels are: 146.55, 147.40, 148.15
Support levels are: 144.55, 142.95, 141.65
The main scenario for the pair's advance implies a breakout of the session low of 144.55 and a possible decline to 142.95 (Oct 1 low)
An alternative scenario suggests a breakout of the session high of 146.55 and there may be an increase to 147.40 (March 13 low)
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