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- USD/JPY is declining and testing the MA (200) Н1.
USD/JPY is declining and testing the MA (200) Н1.
Today, the USD/JPY pair is trading mostly lower from 150.95 to 149.85 after Tuesday's sharp rise to a more than one-year high of 151.70. On the hourly chart, the pair is testing the MA (200) H1 moving average line (150.20) and remains above the MA (200) H4 (149.30) on the four-hour chart. Technically speaking, the 148.80 support may keep prices from further declines. If this level is breached, the pair may drop to 148.15. The upper boundary of 151.70 represents a resistance level.
⦁ Resistance levels are: 150.80, 151.70, 152.00
⦁ Support levels are: 148.80, 148.15, 147.30
The main scenario for the pair suggests a break of resistance at 150.80 (Oct 26 high) and a possible rise to 151.70 (Oct 31 high).
The alternative scenario implies a decline to 148.80 (Oct 30 low).
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