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- USD/JPY is trading near a 3-month high.
USD/JPY is trading near a 3-month high.
Today, the USD/JPY pair is trading in a range of 149.90-150.60 halfway through this week to a 3-month high of 150.90. On the hourly chart, USD/JPY moved above the H1 MA (200) H1 (149.20) moving average line and on the 4-hour chart above the H4 MA (200) H4 (146.90). Technically speaking, the resistance level at 150.90 may keep prices from rising further. If it is broken, the pair may rise to 151.45. The lower boundary of 148.90 represents a support level.
⦁ Resistance levels are: 150.90, 151.45, 151.95
⦁ Support levels are: 148.90, 147.60, 145.90
The main scenario for the pair suggests a break of resistance at 150.90 (Feb 13 high) and maybe a rise to 151.45 (Nov 15-16 high)
The alternative scenario implies a break of support at 148.90 (Feb 12 low) and may be a decline to 147.60 (Feb 7 low)
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