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- USD/JPY is growing and testing MA (200) H1
USD/JPY is growing and testing MA (200) H1
Today, the USD/JPY pair is mainly growing from Y132.90 to Y133.80 after falling yesterday to a weekly low of Y131.70. On the hourly chart, the pair is testing the MA (200) H1 (Y133.75) moving average line, but on the four-hour chart it remains below MA (200) H4 (Y135.70). Technically speaking, the resistance of Y135.30-60 can keep prices from further growth. The lower bound of Y131.70 represents the support level.
⦁ Resistance levels are: Y135.30-60, Y137.45, Y138.00
⦁ Support levels are: Y131.70, Y130.40, Y129.50
The main scenario for the pair's promotion is a correction, a breakout of support Y131.70 (August 11 low) and there may be a decline of Y130.40 (August 2 low)
An alternative scenario implies the pair's growth to Y135.30-60 (August 5-10 highs)
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