Yesterday the USD/JPY traded down and closed the day in the red zone near the price of Y114.15. Today it also fell a little, dropping to Y113.65. On the hourly chart, USD/JPY is still trading below the moving average line MA (200) H1 (Y115.45). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the USD/JPY remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
Resistances levels are at: Y114.20, Y114.70, Y115.45
Support levels are at: Y113.55, Y113.35, Y113.05-15
Probably, the main scenario is a continuation of the downward movement towards Y113.55 (Dec 21 low). The alternative scenario is consolidation above MA 200 H1, followed by growth towards Y116.35 (Jan 4 high).
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