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- USD/JPY remains below MA (200) H1
USD/JPY remains below MA (200) H1
Today, there is a steady downward trend on the hourly chart of the USD/JPY pair. The price consistently forms decreasing highs and lows, which is confirmed by the price position below the moving average MA (200) H1 (142.70), which is also directed downward. The MACD indicator is in the negative zone, which confirms the bearish momentum, but the last bars of the histogram are shrinking, which may indicate a weakening of downward pressure and a possible short-term upward correction. The nearest resistance is at the level of 141.20, its breakdown may lead to a retest of the 142.70 zone. However, for now, the general direction remains downward, and the priority remains for sales during pullbacks to resistances.
Resistance levels are: 141.20, 142.70, 144.25
Support levels are: 139.90, 139.60, 139.00
The main scenario for the pair's advance implies a breakout of the session low of 139.90 and there may be a decline to 139.60 (Sept 16 low)
An alternative scenario suggests a breakout of the session high of 141.20, an increase to MA (200) H1 (142.70) and then, perhaps, to 144.25 (high of the American session on April 11)
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