Technical Analysis
26.05.2023, 12:10

USD/JPY is trading near a 6-month high

Today, the USD/JPY pair is trading in the range Y139.50-140.15 - about a 6-month high. On the hourly chart, the pair is trading above the moving average line MA (200) H1 (Y132.20). On the four-hour chart, the pair remains above MA (200) H4 (Y135.50). Technically speaking, the resistance is Y140.20 may keep prices from rising further. The lower bound of Y137.30 represents the support level.

Resistance levels are: Y140.20, Y141.65, Y142.25

Support levels are: Y138.20, Y137.30, Y135.65

The main scenario of the pair's promotion assumes a breakout of the resistance of Y140.20 (May 25 high) and there may be an increase to Y141.65 (November 23’ 2022 high)

An alternative scenario assumes a breakout of support Y138.20 (May 23-24 low, MA (200) H1) and there may be a decline to Y137.30 (May 18 low)

Symbol Bid Ask Time

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