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- USD/JPY remains above MA (200) H1
USD/JPY remains above MA (200) H1
On the hourly chart, the USD/JPY pair is trading around 144.90 after reaching a local maximum at 145.45. The price is showing signs of correction after an impulsive growth. Support is located at 144.30, which coincides with the MA moving average (2000H1, which makes it an important level for the bulls. The MACD indicator shows a decrease in the histogram and a possible transition to the negative zone, which may signal a reversal of the upward momentum or at least a weakening of bullish dynamics. If the price holds above the level of 144.30, the uptrend may continue with the aim of retesting 145.45. However, a breakdown below 144.30 will open the way to a deeper decline. The overall picture remains neutral and positive as long as the price remains above the 200-period moving average.
Resistance levels are: 145.45, 146.30, 147.65
Support levels are: 144.30, 143.65, 142.80
The main scenario for the pair's advance suggests a breakout of the session high of 145.45 (June 11 high) and there may be an increase to 146.30 (May 29 high).
An alternative scenario suggests a breakout of the support 144.30 (June 17 low) and there may be a decline to 143.65 (June 16 low).
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