Today, the USD/JPY pair is trading in the range Y135.15-Y136.20, slightly below the 24-high Y136.70 reached on Tuesday. On the hourly chart, USD/JPY remains above the moving average line of MA (200) H1 (Y134.80) and on the four-hour chart - above MA (200) H4 (Y130.95). Technically speaking, the resistance of Y136.70 can keep prices from further growth. The lower bound of Y134.55-80 represents the support level.
⦁ Resistance levels are: Y136.70, Y137.00, Y138.00
⦁ Support levels are: Y134.55-80, Y133.20, Y131.50
The main scenario for the pair's promotion — the resistance breakthrough is Y136.70 (June 21-22 high) and there may be an increase to the psychological level of Y137.00
An alternative scenario — support breakout is Y134.55-65 (June 20 low, MA (200) H1) and there may be a decline to Y131.50 (June 16 low)
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