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- USD/JPY is growing and testing MA (200) H1
USD/JPY is growing and testing MA (200) H1
Yesterday, the USD/JPY pair declined from 156.20 to a 5-week low of 153.70, but closed the session with a slight increase near the price of 154.45. Today, the pair continued to grow and rose to 155.90. On the hourly chart, USD/JPY is testing the MA (200) H1 moving average line (155.75) and the MA 200 H4 line (156.05) on the four-hour chart. Based on the above, it is probably worth continuing to stick to the northern direction in trading, and until the pair is fixed below the MA 200 H1, it is necessary to look for entry points to buy.
Resistance levels are at: 156.20, 156.75, 158.20
Support levels are at: 154.75, 153.70, 153.15
The main scenario for the pair's advance implies a breakout of the resistance of 156.20 (Jan 27 high) and there may be an increase to 156.75 (Jan 23 high)
An alternative scenario assumes a breakout of the support of 154.75 (Jan 21 low) and there may be a decline to 153.70 (Jan 27 low)
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