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- USD/JPY declines and tests MA (200) H1
USD/JPY declines and tests MA (200) H1
Today, on the hourly chart, USD/JPY is under pressure after a recent decline below the level of 143.30 and the breakdown of the MA (200) H1 moving average, which indicates a possible development of a downward momentum. The price rebounded from the resistance around 145.10 and turned downwards, forming a series of lowered highs. The MACD indicator has moved into the negative zone, reinforcing the signals of bearish dynamics. In case of consolidation below the current level of 142.85, the next target may be support at 141.90, and then 141.55. Growth is possible only if it returns above 143.30 and then overcomes 144.30, which so far looks unlikely without a change in current sentiment. The overall picture indicates the resumption of a downward correction after a period of growth.
Resistance levels are: 144.30, 145.10, 145.90
Support levels are: 141.55-90, 139.90, 139.00
The main scenario for the pair's advance suggests an increase to the session high of 144.30 and then, perhaps, to 145.10 (high of the American session on May 2)
An alternative scenario assumes a breakout of the area of 141.55-90 (April 23 and 28 lows) and there may be a decrease to 139.90 (April 22 low)
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