On Friday, the USD/JPY traded higher and closed the day in positive territory around the price of 149.35. Today the pair rose slightly, rising to 149.80. On the hourly chart, USD/JPY is still trading above the moving average line MA (200) H1 (148.65). 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 MA 200 H1, may be you need to look for entry points to buy at the end of the correction.
Probably, the main scenario is continued growth to 149.80 (session high).
The alternative scenario involves consolidation below MA 200 H1, followed by a fall to 147.30 (Sep 21 low).
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