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- USD/JP is trading near a 7-month high
USD/JP is trading near a 7-month high
Today, the USD/JPY pair is trading in the range Y142.75-143.45 - near a new 7-month high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y141.30) and on the four-hour chart above MA (200) H4 (Y139.05). Technically speaking, the resistance of Y145.15 can keep prices from further growth. The lower bound of Y141.20-30 represents the support level.
⦁ Resistance levels are: Y145.15, Y146.80, Y148.90
⦁ Support levels are: Y142.40, Y141.20-30, Y139.85
The main scenario of the pair's promotion assumes a breakout of the resistance Y145.15 (November 9’ 2022 low) and may be an increase to Y146.80 (November 8’ 2022 high)
An alternative scenario assumes a breakout of support Y142.40 (June 21 high) and there may be a decline to Y141.20-30 (June 20-21 lows, MA (200) H1)
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