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- USD/JPY remains slightly below MA (200) H1.
USD/JPY remains slightly below MA (200) H1.
Today, the USD/JPY pair basically grows in the range of 149.35-75 after declining to 149.20 on Friday. On the hour chart, the pair remains slightly below the line of moving average MA (200) H1 (150.20). On the four-hour chart, the pair is testing MA (200) H4 (149.45). Technically speaking, support for 149.20 can keep prices from falling further. If this level is passed, the pair may fall to 148.80. The upper boundary of 151.70 is the resistance level.
⦁ Resistance levels are: 150.60, 151.70, 152.00
⦁ Support levels are: 149.20, 148.80, 148.15
The main scenario of the pair’s promotion involves a breakthrough of resistance of 150.60 (high of the European session on Nov 2) and may be growth to 151.70 (Oct 31 high).
An alternative scenario implies a decrease by 149.20 (Nov 3 low) and so, maybe by 148.80 (Oct 30 low).
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