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- USD/JPY demonstrates an attempt to stabilize after a decline.
USD/JPY demonstrates an attempt to stabilize after a decline.
Today, on the hourly chart, USD/JPY demonstrates an attempt to stabilize after a decline that began from the resistance level of 148.70. Currently, the price is consolidating near the 145.60 mark, slightly above the support level of 144.80 and the MA (200) H1 moving average, which acts as a local benchmark. After correcting from the peak on May 12, the pair formed a local bottom around 144.80 and is now attempting a recovery.
The MACD indicator shows weak signs of divergence and a gradual recovery with a return to the positive zone, which may indicate a slowdown in the downward momentum. The overall technical picture is neutral with a bias towards a bullish correction, while the key trigger for the movement will be consolidation above 145.60.
Resistance levels are: 146.25, 147.65, 148.70
Support levels are: 144.80, 143.45, 142.35
The main scenario for the pair's advance assumes a breakout of the resistance of 146.25 (high of the American session on May 15) and there may be an increase to 147.65 (May 14 high)
An alternative scenario suggests a breakout of the support 144.80 (May 9 low) and a possible decline to 143.45 (May 8 low)
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