20:49 USD / JPY remains below MA (200) H1
Today, the USD/JPY pair rose from Y104. 90 to Y105. 30, after a sharp decline in the second half of yesterday's trading from Y105. 85 to a weekly low of Y105. 00. On the hourly chart, the pair remains below the moving average line of MA (200) H1 (Y105. 40), but on the four-hour chart, it is trading above MA (200) H4 (Y104.55). Technically speaking, the strong support level of Y104.90 kept USD/JPY from further decline. The upper limit of MA (200) H1 (Y105.40) represents the resistance level. If this level is passed, the pair can rise to Y105. 85-90.
⦁ Resistance levels are: Y105.40, Y105.85-90, Y106.20
⦁ Support levels are: Y104.90, Y104.40, Y104.00
The main scenario for the pair's promotion - correction, decline to Y104. 90 (February 15 low, session low) and then maybe to Y104. 40 (February 10 low).
An alternative scenario - If the MA (200) H1 (Y105.40) line is broken, the pair may rise to Y105. 85-90 (February 18 and 22 highs)
|remaining time till the new event being published|
- U.S. consumer spending rises 2.4 percent in January, income surges 10 percent
- BoE's chief economist Haldane: We might see higher and more sustained rise in UK inflation than expected
- U.S. consumer sentiment slightly better than initially estimated in February
- Key events for next week: Eurozone, Britain, China and US PMI indices, RBA interest rate decision, Canada, Australia and Japan GDP, Eurozone and US unemployment rate, Canada and US trade balance