Yesterday the USD/JPY traded down and closed the day in the red zone near the price of Y136.10. Today it also fell a little, dropping to Y135.10. On the hourly chart, USD/JPY is still trading above the moving average line MA (200) H1 (Y134.80). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the USD/JPY remains above MA 200 H1, it may be necessary to look for entry points to buy at the end of the correction.
Resistances levels are at: Y136.70, Y137.00, Y138.00
Support levels are at: Y134.95, Y134.55, Y133.80
Probably, the main scenario is continued growth towards the level of Y136.70 (Jun 21 high).
Alternative scenario is consolidation below MA 200 H1, followed by a fall towards Y131.50 (Jun 16 low).
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