The USD/JPY traded slightly higher yesterday and closed the day in the positive territory around 146.20. Today, the pair, on the contrary, fell a little, dropping to the level of 145.75. On the hourly chart, USD/JPY is testing the strength of the support - the line of the moving average MA (200) H1 (145.90). On the four-hour chart, the pair is still above the MA 200 H4 line. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the pair remains above MA 200 H1, it may be necessary to look for entry points to buy at the end of the correction.
Probably, the main scenario is continued growth towards 146.50 (Aug 30 high).
The alternative scenario suggests consolidation below MA 200 H1, followed by a fall towards 144.55 (Aug 23 low).
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