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- USD/JPY is trading below MA (200) H1
USD/JPY is trading below MA (200) H1
Today, on the hourly chart, USD/JPY continues to move within a steady downtrend, trading well below the MA (200) H1 moving average, which confirms the dominance of the bears. The price broke through the 143.00 level and rushed to a new local support at 142.55. The MACD indicator shows a steady decline: the histogram has dropped into the negative zone, and the signal lines are pointing down, reinforcing the sell signals. While maintaining the current dynamics, the immediate target is the support level around 142.00, and in case of its breakdown, it is possible to move to lower values. Resistances are located near 144.45 and 145.55, and only a return above these levels can signal a possible reversal. Up to this point, the short-term prospects for the pair remain negative.
Resistance levels are: 144.45, 145.45, 146.20
Support levels are: 142.35, 141.95, 141.50
The main scenario for the pair's advance suggests a breakout of 142.35 (May 5 low) and a possible decline to 141.95 (April 28-29 low)
An alternative scenario assumes an increase of 144.45 (May 22 high) and there may be an increase to 145.45 (May 20 high)
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