Today, the USD/JPY pair is trading in the 147.00-85 range - near the 10-month high reached yesterday. On the hourly chart, the pair moved above the H1 MA (200) moving average line (146.35). On the four-hour chart, the pair remains above the MA (200) H4 (144.20). Technically speaking, resistance at 147.85 may keep prices from rising further. If this level is passed, the pair could rise to 149.60. The lower boundary of 146.00 represents a support level.
⦁ Resistance levels are: 147.85, 149.60, 152.00
⦁ Support levels are: 147.00, 146.00, 144.45
The main scenario for the pair suggests a rise to 147.85 (Sep 5 high, session high) and could be a rise to 149.60 (Oct 24’ 2022 high)
The alternative scenario implies a break of the session low of 147.00 and may be a decline to 146.00 (Sep 4 low).
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