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- USD/JPY has fallen sharply and is trading below MA (200) H1
USD/JPY has fallen sharply and is trading below MA (200) H1
Today, since the beginning of European trading, the USD/JPY pair has fallen sharply from Y105.65 to Y104.94, falling below the MA (200) H1 moving average line (Y105.40). At the time of writing, the pair rose slightly to Y105.15. On the four-hour chart, the pair is trading below MA (200) H4 (Y105.65). In this situation, it is probably worth sticking to the southern direction of trade and looking for points of entry to sell. The most likely range of movement of the pair today may be hidden within the range Y104.95-105.65.
⦁ Resistance levels are at: Y105.65-80, Y106.30, Y106.55
⦁ Support levels are at: Y104.95, Y104.40, Y104.00
The main scenario for the pair's promotion - breakout of the session low Y104.95 (September 23 low) and probable decline to Y104.40 (September 22 low)
An alternative scenario - if the Y105.65-80 area breaks (September 25-30 and October 1 highs, session high), the pair is likely to grow to Y106.30 (September 9-11 high)
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