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- USD/JPY is trading near the highest levels since 1998
USD/JPY is trading near the highest levels since 1998
Today, the USD/JPY pair is trading in the range Y142.30-143.50 - slightly below the maximum value since 1998 (Y145.00) reached last week. On the hourly chart, the pair remains above the moving average line of MA (200) H1 (Y141.55) and on the four-hour chart - above MA (200) H4 (Y136.75). Technically speaking, the psychological level of Y145.00 can keep prices from further growth. The lower bound of Y139.85 represents the support level.
⦁ Resistance levels are: Y143.50, Y145.00, Y146.00
⦁ Support levels are: Y141.50-55, Y139.85, Y138.05
The main scenario of the pair's promotion assumes the pair's growth to the psychological level of Y145.00 (September 7 high)
An alternative scenario implies a breakout of support Y141.50-55 (August 9 low, MA (200) H1) and there may be a decline to Y139.85 (September 2 low)
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