USD/JPY Analysis

[Uritron]

Yesterday, the USD/JPY traded lower and closed the day in the red zone around the price of 150.45. Today, the pair also fell a little, dropping to 150.25. On the hourly chart, USD/JPY is testing the strength of support at the moving average lines MA (200) and H1 (150.20). On the four-hour chart, the pair remains above the MA 200 H4 line. Based on the above, it is probably worth sticking to the north direction in trading, and while the pair remains above MA 200 H1, you may need to look for entry points to buy at the end of the correction.

Resistance levels are at 150.55, 151.25–35, and 151.70.
Support levels are at 149.85, 149.30, and 148.95.

The main scenario is probably a resumption of growth to 150.55 (the high of the American session on November 2).
The alternative scenario involves consolidation below MA 200 H1, followed by a fall to 148.80 (Oct 30 low).

[Principio Mazzanti]

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