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- USD/JPY is testing the MA (200) H1
USD/JPY is testing the MA (200) H1
Today, the USD / JPY pair is trading with a slight decrease from Y106.30 to Y106.00, after rising during yesterday's US trading from Y105.80 to Y106.30. The pair is testing the moving average line of MA (200) H1 (Y106.10) and is trading slightly higher than MA (200) H4 (Y105.90). The y106.00 support is still holding the pair from further decline. If it breaks through, the pair may fall to Y105. 60-80. The Y106.40-55 area represents a strong resistance level. If this level is passed, USD/JPY may follow a correction to Y106. 95-107. 05. 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: Y106.00, Y105.60-80, Y105.10-20
The main scenario for the pair's promotion - if the session low y106.00 breaks (September 3 low), the pair is likely to decline to Y105.60-80 (September 1 and 9 low).
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)
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