19:48 USD/JPY remains below MA (200) H1
Today, the USD/JPY pair is trading in the range of Y128.35-129.35 after reaching a 2-week low of Y127.50 yesterday. Recall that on Monday the pair reached a new 20-year high (Y131.35). On the hourly chart, USD/JPY remains below the moving average line of MA (200) H1 (Y129.95), but on the four-hour chart it is trading above MA (200) H4 (Y127.10). Technically speaking, the support of Y127.50 can keep prices down further. The upper bound of Y130.80 represents the resistance level.
⦁ Resistance levels are: Y129.35, Y130.05, Y130.80
⦁ Support levels are: Y127.50, Y126.95, Y125.80
The main scenario for the pair's promotion — the breakout of the session maximum of Y129.35 may be the growth of the pair to Y130.05 (May 12 high)
An alternative scenario — decline to Y127.50 (May 12 low) and then maybe to Y126.95 (April 27 low)
|remaining time till the new event being published|