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- USD/JPY remains below MA (200) H1
USD/JPY remains below MA (200) H1
There is a steady downward trend on the USD/JPY hourly chart today. The price consistently forms lower highs and lows, indicating a predominance of bearish sentiment. The MA (200) H1 moving average is directed downwards and serves as a dynamic resistance level. The current price is below this average, which confirms the ongoing bearish momentum.
The MACD indicator is in the negative zone, which also confirms the dominance of sellers. Despite the attempt to form a bullish divergence in recent hours, there is still no signal for a steady reversal.
The overall picture points to the advantage of the bears, and any short-term pullbacks can be seen as an opportunity to open short positions as long as the price remains below the 144.45 level and especially below the MA (200) H1 moving average.
Resistance levels are: 144.45, 145.45, 146.20
Support levels are: 142.80, 142.35, 141.95
The main scenario for the pair's advance suggests a breakout of the session low of 142.80 and a possible decline to 142.35 (May 5 low)
An alternative scenario suggests a breakout of the session high of 144.45 and there may be an increase to 145.45 (May 20 high)
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