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- USD/JPY grows and tests MA (200) H1
USD/JPY grows and tests MA (200) H1
Today, the USD/JPY pair is mostly rising in the 138.80-140.00 range and is testing the MA (200) H1 moving average line (139.70) on the hourly chart. On the four-hour chart, the pair remains below the MA (200) H4 (141.40). Technically speaking, the resistance level at 141.50 may keep prices from further growth. If it is broken, prices may rise to 143.00. The lower boundary of 137.25 represents a strong support level.
⦁ Resistance levels are: 141.50, 143.00, 144.75
⦁ Support levels are: 138.80, 137.25, 136.25
The main scenario for the pair suggests a break of the session low of 138.80 and a possible decline to 137.25 (July 14 low)
The alternative scenario implies a break of resistance at 141.50 (July 11 high) and a possible rise to 143.00 (July 10 high).
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