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- USD / JPY remains above MA (200) H1
USD / JPY remains above MA (200) H1
Today, the USD / JPY pair is trading in the Y105.15-50 range, after a sharp increase on Monday from Y103.15 to Y105.65. On the hourly chart, the pair is trading above the moving average line MA (200) H1 (Y104.60), and on the four - hour chart-slightly above MA (200) H4 (Y105.05). The Y105.65-75 resistance may keep USD / JPY from rising further. If it breaks through, the price may soar to Y106. 05-10. The Y104.80-105.00 area represents the support level. If this level is passed, the pair may follow a correction to Y104.50. The most likely range of price movement today may be hidden within the range Y104.80-Y105. 75. It is worth noting that the hourly chart has formed a bearish divergence on the MACD indicator, which signals a possible change in the direction of price movement.
⦁ Resistance levels are at: Y105.65-75, Y106.05-10, Y106.40
⦁ Support levels are at: Y104.80-105.00, Y104.60, Y104.00
The main scenario for the pair's promotion - breakout of Y104. 80-105. 00 (November 10-11 lows), and there may be a decline to MA (200) H1 (Y104. 60)
An alternative scenario - if the area is broken Y105.65-75 (October 20 and November 9 and 11 highs), then the pair is likely to grow to Y106.05-10 (October 7-9 highs)
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