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- USD/JPY shows steady growth
USD/JPY shows steady growth
On the hourly chart, the USD/JPY pair shows steady growth, breaking through resistance levels one after another and reaching 148.05, where a local maximum is fixed. The price significantly exceeds the MA (200) H1 moving average, which confirms the presence of a strong uptrend. Supports at the level of 146.30 and below - 145.15 - now act as potential pullback zones. The MACD indicator shows steady growth of the histogram, which indicates a powerful bullish momentum without signs of slowing down. The current dynamics indicate continued growth in the short term, however, overbought conditions may lead to a short-term correction, especially near the round level of 148.00. If it is fixed above 148.05, the next target may be around 148.70.
Resistance levels are: 148.05 148.70, 150.45
Support levels are: 146.30, 145.15, 144.30
The main scenario for the pair's advance suggests a breakout of the session high of 148.05 and there may be an increase to 148.70 (May 12 high).
An alternative scenario suggests a decrease to 146.30 (May 29 high) and there may be a decrease to 145.15 (June 20 low).
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