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- USD/JPY remains below MA (200) H1
USD/JPY remains below MA (200) H1
Today, the USD/JPY pair is trading in the range of Y112.70-113.35, slightly above the 10-week low (Y112.55) reached on Monday. On the hourly chart, the pair is trading below the moving average line of MA (200) H1 (Y114.15) and on the four-hour chart - below MA (200) H4 (Y113.95). Technically speaking, the support of Y112.55 can keep prices from further decline. If it breaks through, prices may drop to Y112.20. The upper limit of Y113.65 represents the resistance level.
⦁ Resistance levels are: Y113.35, Y113.65, Y113.95-114.15
⦁ Support levels are: Y112.55, Y112.20, Y111.50
The main scenario for the pair's promotion — support breakthrough is Y112.50 (November 30 low) and there may be a decline to Y112.20 (October 11 low)
An alternative scenario — breakout of the session maximum of Y113.35 and there may be an increase to Y113.65 (December 1 high)
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