Yesterday the USD/JPY traded down and closed the day in the red zone near the price of Y130.15. Today it, on the contrary, rose a little, having risen to the level of Y130.55. On the hourly chart, USD/JPY is still testing resistance - the moving average line MA (200) H1 (Y129.10). On the four-hour chart, the USD/JPY is still below the MA 200 H4 line. 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 for selling at the end of the correction.
Resistances levels are at: Y131.10, Y131.60, Y131.90
Support levels are at: Y129.65-75, Y129.05, Y128.75
Probably, the main scenario is the resumption of the downward movement towards Y129.75 (Jan 24 low).
The alternative scenario suggests fixing above MA 200 H1, followed by growth to Y131.90 (the high of the European session on Jan 12).
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