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- USD/JPY remains under pressure
USD/JPY remains under pressure
On the hourly chart, the USD/JPY pair continues to trade under continued downward pressure. After an attempt to recover, which ended near the resistance level of 145.20, the price turned down and again fell below the moving average of MA (200) H1, which signals the continuation of the bearish trend. At the moment, the quote has stabilized near the level of 144.35, which acts as a local support. Below is the important level of 144.20, the breakdown of which can strengthen the downward movement and open the way to the next target — 143.30. The MACD indicator shows a decrease in the histogram after the previous rise, which indicates a weakening of the bullish momentum and increases the likelihood of a resumption of the decline. The overall technical picture indicates the uncertain nature of recent growth, which probably represents a correction within a broader downtrend.
Resistance levels are: 145.20, 145.95, 146.30
Support levels are: 144.20, 143.30, 142.70
The main scenario for the pair's advance suggests a breakout of the session low of 144.20 and a possible decline to 143.30 (July 2 low)
An alternative scenario assumes a breakout of the resistance of 145.20 (July 3 high) and there may be an increase to 145.95 (June 25 high).
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