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- USD/JPY is trading near a 2-month low
USD/JPY is trading near a 2-month low
Today, the USD/JPY pair is mostly rising in the range of 146.85-147.80, having reached a 2-month low of 146.65 yesterday. On the hourly chart, the pair fell below the MA (200) H1 moving average line (148.45). On the 4-hour chart, the situation is similar. Technically speaking, the support level of 146.65 may keep the prices from further decline. In case of its breakdown, the pair may fall to 145.90. The upper boundary of 150.00 represents a strong resistance level.
⦁ Resistance levels are: 147.90, 148.80, 149.20-150.00
⦁ Support levels are: 146.65, 145.90, 144.45
The main scenario for the pair suggests a break of yesterday's low of 146.65 and a possible decline to 145.90 (Sept 11 low)
The alternative scenario implies a break of resistance at 147.90 (Nov 29 high) and a possible rise to 148.80 (Nov 28 high).
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