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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 of Y142.95-143.70 - near a new 7-month high of Y143.90, reached last week. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y141.70) and on the four-hour chart above MA (200) H4 (Y139.30). Technically speaking, the resistance of Y143.90 can keep prices from further growth. The lower bound of Y141.20 represents the support level.
⦁ Resistance levels are: Y143.90, Y145.15, Y146.80
⦁ Support levels are: Y142.65, Y141.70, Y141.20
The main scenario of the pair's promotion assumes a breakout of the resistance of Y143.90 (June 23 high) and there may be an increase to Y145.15 (November 9’ 2022 high)
An alternative scenario assumes a breakout of support Y142.65 (June 23 low) and there may be a decline to Y141.20 (June 20 low)
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