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- USD/JPY rose slightly above MA (200) H1
USD/JPY rose slightly above MA (200) H1
Today, on the hourly chart, USD/JPY is showing a steady recovery after a short-term decline and is trading near the level of 143.00, testing important resistance at 143.20. A confident overcoming of this level may open the way to the next target at 144.05, while support is forming at 141.95 and further at 141.55, where the price previously found demand. Quotes rose above the MA (200) H1 moving average, which reinforces the bullish scenario and indicates a resumption of the uptrend. The MACD indicator continues to grow, its histogram is steadily in the positive zone and is expanding, which confirms the presence of an upward momentum. The overall technical picture indicates a predominance of buyers and a high probability of further growth, subject to a breakdown of the nearest resistance.
Resistance levels are: 143.20, 144.05, 145.15
Support levels are: 141.95, 141.55, 139.90
The main scenario for the pair's advance implies a breakout of the session high of 143.20 and there may be an increase to 144.05 (April 25 high)
An alternative scenario assumes a breakout of the support of 141.95 (April 28 low) and there may be a decline to 141.55 (April 23 low)
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