Today, the USD/JPY pair is mainly declining from Y139.60-138.00, almost reaching a 3-month low of Y137.70. On the hourly chart, the pair dropped below the moving average line MA (200) H1 (Y140.25) and on the four-hour chart remains below MA (200) H4 (Y145.40). Technically speaking, the support of Y137.70 can keep prices from further decline. The upper bound of Y141.25-45 represents the resistance level.
⦁ Resistance levels are: Y140.25, Y141.60, Y141.25-45
⦁ Support levels are: Y137.70, Y136.20, Y135.70-80
The main scenario of the pair's promotion assumes a decline to Y137.70 (November 15 low) and then, maybe, to Y136.20 (August 26 low)
An alternative scenario implies a breakthrough of MA (200) H1 (Y140.25) and there may be an increase to Y141.25-45 (November 11 and 21-22 high)
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