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Technical Analysis usdjpy
Technical analysis usdjpy on 29 September 2023
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05:12
The USD/JPY remains above MA 200 H1
Yesterday, the USD/JPY traded lower and closed the day in the red zone around the price of 149.25. Today, on the contrary, the pair has grown slightly, rising to the level of 149.45. On the hourly chart, USD/JPY is still trading above the moving average line MA (200) H1 (148.50). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading and while the pair remains above the MA 200 H1, may be you need to look for entry points to buy when a correction is formed.
- Resistances levels are at: 149.70, 150.00, 151.00
- Support levels are at: 149.15, 148.70-80, 148.30
Probably, the main scenario is continued growth to 149.70 (Sep 27 high).
The alternative scenario is consolidation below MA 200 H1, followed by a fall to 147.30 (Sep 21 low).
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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