Technical Analysis
26.05.2023, 04:56

The USD/JPY slightly down after yesterday's gains

Yesterday the USD/JPY traded higher and closed the day in the positive territory near the price of Y140.05. Today it, on the contrary, fell a little, dropping to the level of Y139.75. On the hourly chart, USD/JPY is still trading above the moving average line MA (200) H1 (Y138.05). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the USD/JPY remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.

  • Resistances levels are at: Y140.20, Y141.00, Y141.60

  • Support levels are at: Y139.20, Y138.80, Y138.00-20

Probably, the main scenario is the continuation of the upward movement towards Y140.20 (May 25 high).

The alternative scenario suggests fixing below MA 200 H1, followed by fall to Y135.65 (May 16 low).

Symbol Bid Ask Time

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