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- USD/JPY is trading near an 8-month high
USD/JPY is trading near an 8-month high
Today, the USD/JPY pair is trading in the range of Y144.20-75 - about the 8-month high of Y145.10 reached last week. On the hourly chart, the pair tests the moving average line MA (200) H1 (Y144.15) and on the four-hour chart remains above MA (200) H4 (Y141.00). Technically speaking, the resistance Y145.10 can keep prices from further growth. The lower bound of Y143.25 represents the support level.
⦁ Resistance levels are: Y145.10, Y146.90, Y148.45
⦁ Support levels are: Y144.00, Y143.25, Y142.65
The main scenario of the pair's promotion assumes a breakout of the resistance Y145.10 (June 30 high) and there may be an increase to Y146.90 (November 8’ 2022 high)
An alternative scenario assumes a breakout of the support of Y144.00 (July 3 low) and there may be a decline to Y143.25 (June 27 low)
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