USD / JPY is trading above MA (200) H1

Today, the USD / JPY pair is trading mainly with growth in the range Y105.00-60, after a sharp increase on Monday from Y103.15 to Y105.65. On the hourly chart, the pair is trading above the moving average line of MA (200) H1 (Y104.50), and on the four-hour chart, it is testing MA (200) H4 (Y105.10). The Y105.65-75 resistance may keep USD / JPY from rising further. If it breaks through, the price may soar to Y106. 05-10. The Y104.80-105.00 area represents the support level. If this level is passed, the pair may follow a correction to Y104.50. The most likely range of price movement today may be hidden within the range Y104. 80-Y105.75. It is worth noting that the hourly chart has formed a bearish divergence on the MACD indicator, which signals a possible change in the direction of price movement.

⦁ Resistance levels are at:  Y105.65-75, Y106.05-10, Y106.40

⦁ Support levels are at:  Y104.80-105.00, Y104.50, Y104.00

The main scenario for the pair's promotion - correction, breakout 104.80-105.00 (November 10 low, session low), and may be a decline to MA (200) H1 (Y104. 50)

An alternative scenario - continuation of the upward movement to Y105.65-75 (October 20 and November 9 highs)