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- USD/JPY is rising and testing MA (200) Н1
USD/JPY is rising and testing MA (200) Н1
The USD/JPY pair is mostly rising today from 144.80 to 146.50, after falling last week to a 4-month low of 141.55. On the hourly chart, the pair is testing the strength of the H1 MA (200) H1 moving average line (146.50), but remains below the H4 MA (200) H4 (149.15) on the four-hour chart. Technically speaking, the resistance level at 147.50 may keep prices from rising further. In case it is broken, the pair may rise to 148.80. The lower boundary of 141.55 represents a strong support level.
⦁ Resistance levels are: 147.50, 148.50-80, 150.00
⦁ Support levels are: 144.80, 141.55, 138.10
The main scenario for the pair suggests a break of the 144.80 session low and a possible decline to 141.55 (Aug 4-7 and Dec 7 lows)
The alternative scenario implies a break of resistance 147.50 (Dec 4-6 high) and a possible rise to 148.50-80 (Nov 28 and 30 highs).
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