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- USD/JPY is testing MA (200) H1
USD/JPY is testing MA (200) H1
Today, the USD/JPY pair has sharply declined from Y131.90 to 129.80, but at the time of writing, the pair has grown to 130.80. On the hourly chart, the pair is testing the moving average line MA (200) H1 (Y130.60) and the four-hour chart is testing MA (200) H4 (Y130.65). Technically speaking, the support of Y129.80 can keep prices from further decline. The upper bound of Y132.90 represents the resistance level.
⦁ Resistance levels are: Y131.90, Y132.90, Y134.75
⦁ Support levels are: Y129.80, Y129.00, Y128.10
The main scenario of the pair's promotion implies a breakout of the session maximum of Y131.90 and there may be an increase of Y132.90 (January 11 and February 6 high).
An alternative scenario assumes a breakout of the session minimum of Y129.80, there may be a decline to Y128.10 (February 2 low).
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