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- USD/JPY fell to a 2-week low.
USD/JPY fell to a 2-week low.
The USD/JPY pair dropped sharply from 150.80 to 149.15 today, hitting a 2-week low. The pair broke the support at 150.05, which was the nearest resistance. On the hourly chart, USD/JPY has dipped below the H1 MA (200) H1 moving average line (151.00) and is testing the H4 MA (200) H4 (150.00) on the four-hour chart. Technically speaking, the support at 149.15 may keep prices from further declines. If this level is passed, the pair could fall to 148.80. The upper boundary of 151.45 represents a resistance level.
⦁ Resistance levels are: 150.05, 150.80, 151.45
⦁ Support levels are: 149.15, 148.80, 148.15
The main scenario for the pair suggests a break of the support at 149.15 (Nov 3 low) and a possible decline to 148.80 (Oct 30 low).
The alternative scenario implies a break of resistance at 150.05 and maybe a rise to the session high of 150.80.
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