Technical Analysis
01.03.2021, 13:10

USD/JPY is trading near a six-month high

Today, the USD/JPY pair is trading mainly with growth in the range of Y106. 35-75-about a six-month high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y105. 80) and on the four-hour chart, it is trading above MA (200) H4 (Y104.80). In this situation, it is probably worth sticking to the north direction in trading and looking for exit points to buy.

Resistance levels are: Y106.95-107.05, Y107.50, Y107.80

Support levels are: Y106.20-35, Y105.80, Y105.20


The main scenario for the pair's promotion - growth to Y106. 95-107. 05 (August 12-14 and 28 highs) and then maybe to Y107. 50 (July 20 high).

An alternative scenario -  correction and may be reduced to Y105. 80 (February 25-26 low, MA (200) H1)

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

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