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- USD/JPY shows steady recovery
USD/JPY shows steady recovery
On the hourly chart, the USD/JPY pair shows a steady recovery after correction from the peak in the area of 148.05, reached on June 21. The price found support in the area of 144.30–144.50 and pushed up, breaking through the MA (200) H1 moving average, which indicates a recovery in the short-term upward momentum. The MACD indicator has formed a bullish intersection and continues to strengthen, confirming the positive dynamics. The nearest resistance is at 146.30, and its breakdown may open the way to a retest of the annual maximum of 148.05. Support has shifted to 144.50 and further to 144.30; Retaining them will be key to maintaining the upward structure. The overall technical picture indicates a resumption of growth with an immediate target in the 146.30 zone.
Resistance levels are: 146.30 148.05, 148.70
Support levels are: 144.30-50, 143.65, 142.80
The main scenario for the pair's advance suggests a breakout of 146.30 (May 29 high) and then, maybe, to 148.05 (June 23 high).
An alternative scenario suggests a decrease to 144.30-50 (June 17-18 and 24 lows) and there may be a decrease to 143.65 (June 16 low).
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