20:57 USD/JPY is trading near a 3-week low
Today, the USD/JPY pair continues to decline and dropped from Y114.25 to a new 3-week low of Y113.65. On the hourly chart, the pair fell below the moving average line MA (200) H1 (Y115.35) and on the four-hour chart - below MA (200) H4 (Y114.30). In this situation, a scenario of further decline of the USD/JPY pair is likely. Finding a sell position can be a wise decision for those who want to take advantage of a stronger Japanese yen.
⦁ Resistance levels are: Y114.25, Y114.70, Y115.35-45
⦁ Support levels are: Y113.55, Y113.15, Y112.50
The main scenario for the pair's promotion — Support breakout is Y113.55 (December 21 low) and there may be a decline to Y113.15 (December 17 low)
An alternative scenario — the breakout of the session maximum is Y114.25 and there may be an increase in the pair to Y114.70 (January 13 high)
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