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Technical Analysis usdjpy
Technical analysis usdjpy on 5 December 2023
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06:03
The USD/JPY remains below MA 200 H1
Yesterday, the USD/JPY traded higher and closed the day in the positive territory around the price of 147.20. Today the pair was trading in a narrow range of 146.95-147.35, remaining close to yesterday's closing price. On the hourly chart, USD/JPY is still trading below the moving average line MA (200) H1 (148.20). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell at the end of the correction.
- Resistances levels are at: 147.85, 148.35-50, 148.85
- Support levels are at: 146.45, 146.25, 145.90
Probably, the main scenario is a continuation of the downward movement to 146.45 (the low of the American session on Dec 4).
The alternative scenario involves consolidation above MA 200 H1, followed by growth to 149.65 (Nov 27 high).
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read 
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