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- USD/JPY is trading near a 3-week low
USD/JPY is trading near a 3-week low
Today, the USD/JPY pair is trading in the range of 152.80-153.60 - about a 3-week low of 152.60. On the hourly chart, the pair has fallen below the MA (200) H1 (155.85) moving average line and is testing MA (200) H4 (153.25) on the four-hour chart. Technically speaking, the support level of 152.60 can keep prices from further decline. If it breaks through, the pair may drop to 151.55. The upper limit of 160.20 represents a strong resistance level.
⦁ Resistance levels are: 155.85-156.30, 158.00, 160.20
⦁ Support levels are: 152.60, 151.55, 150.80
The main scenario for the pair's promotion assumes a breakout of the support of 152.60 (April 12 low) and there may be a decrease to 151.55 (April 9 low)
An alternative scenario implies an increase to 155.85-156.30 (May 2 high, MA (200) H1) and then, maybe, to 158.00 (May 1 high)
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