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- USD/JPY remains below MA (200) H1
USD/JPY remains below MA (200) H1
The USD/JPY pair is showing a steady downward trend on the hourly chart today. The price is trading below the MA (200) H1 moving average (144.45), which is directed downwards, which confirms the bearish market sentiment. In recent days, the pair has been consolidating in the range between the support levels of 141.55 and the resistance of 144.20. A break below the level of 141.55 may increase the pressure on sellers and lead to a further decline. At the same time, resistance at 144.20 and above at 144.45 limits possible growth attempts. The MACD indicator is below the zero line, which indicates continued bearishness, but there is a weak recovery — the histogram shows a reduction in negative values, which may indicate a slowdown in the downward momentum or the beginning of a correction.
Resistance levels are: 144.20-45, 147.20, 148.30
Support levels are: 141.55, 140.30, 139.60
The main scenario for the pair's advance implies a breakout of the session low of 141.55 (Sep 30 low) and a possible decline to 147.20 (Sep 17 low)
An alternative scenario assumes a breakout of 144.20-45 (April 11 high, MA (200) H1) and there may be an increase to 147.20 (high of the European session on April 10)
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