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- USD/JPY is trading near a 2-week high
USD/JPY is trading near a 2-week high
The USD/JPY pair is trading in the 148.25-80 range today, having reached a 2-week high. On the hourly chart, the pair moved above the H1 MA (200) moving average line (147.50). On the four-hour chart, the pair remains above the MA (200) H4 (145.30). Technically speaking, the resistance level at 148.80 may keep prices from rising further. If it is broken, the pair may rise to 150.00. The lower boundary of 145.90 represents a support level.
⦁ Resistance levels are: 148.80, 150.00, 151.45
⦁ Support levels are: 147.50, 145.90, 144.35
The main scenario for the pair suggests a break of resistance at 148.80 (Jan 19 high, session high) and a possible rise to 150.00 (Nov 20 high)
The alternative scenario implies a break of the support MA (200) Н1(147.50) and a decline to 145.90 (Feb 1 low).
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