Technical Analysis
09.09.2020, 11:58

USD/JPY is testing the MA (200) H1

During European trading, the USD / JPY pair rose to Y106.15, after falling from the beginning of the session to a weekly low of Y105.80. The pair again rose slightly above the moving average line of MA (200) H1 (Y106.05) and MA (200) H4 (Y105.90). A strong resistance level of Y106. 40-55 (September 3-8 highs) may keep the pair from further growth. If it breaks through, the pair may soar to Y106.95-107.05 (August 12-14 and 28 highs). The lower bound of Y105.60 represents a strong support level. If this level is passed, USD/JPY may follow a correction to Y104.75. The most likely range of movement of the pair today may be hidden within the range Y105.80-106.55.


Resistance levels are at: Y106.40-55, Y106.95-107.05, Y107.50

Support levels are at: Y105.60-80, Y105.10-20, Y104.75


The main scenario for the pair's promotion - if the support breaks through Y105.60-80 (September 1 low, session low), the pair is likely to decline to Y105. 10-20 (August 19 and 28 lows).

An alternative scenario - if strong resistance breaks through Y106.40-55 (September 3-8 highs), it is likely to rise to Y106.95-107.05 (August 12-14 and 28 highs)


Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

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