Current price: 144.87
Key point: 145.10
Our preferred direction: buy positions at the highest levels of 145.10, targeting 146.50 as the first target, then 147.50 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 145.10 level, targeting 143.30 levels.
Technical commentary
The dollar against the Japanese yen was moving in a downward direction on the four-hour time frame from last November’s peak until the price was able to penetrate the trend line shown upward and form an ascending price channel from last month’s bottom and hold above the 200 moving average.
It is expected that the pair will continue to rise to levels of 146.50 and then levels of 147.50
However, if the channel is breached downwards along with the breach of the moving average, it will retest the 143.30 levels
