Yesterday, the USD/JPY pair traded higher and closed the day in positive territory around the price of 147.45. Today the pair fell a little, dropping to 147.00. On the hourly chart, USD/JPY is testing the strength of support - the moving average line MA (200) H1 (147.05). On the four-hour chart, the pair still remains above the MA 200 H4 line. 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 a resumption of growth to 147.75 (Sep 13 high).
The alternative scenario involves consolidation below MA 200 H1, followed by a fall to 144.45 (Sep 1 low).
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