Yesterday, the USD/JPY pair traded in different directions in the range of 147.00-147.50 and closed the day without significant changes. Today the pair also traded in a narrow range of 147.35-50, remaining close to yesterday's closing price. On the hourly chart, USD/JPY is still trading above the moving average line MA (200) H1 (147.15). 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.
Probably, the main scenario is a resumption of growth to 147.75 (Sep 13 high).
The alternative scenario is consolidation below MA 200 H1, followed by a fall to 145.90 (Sep 11 low).
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