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- USD/JPY is testing MA (200) H1
USD/JPY is testing MA (200) H1
Today, the USD/JPY pair is mainly declining from 156.60 to 155.20 and on the hourly chart it can test the strength of the MA (200) H1 (155.20) moving average line. On the four-hour chart, the pair remains slightly above MA (200) H4 (154.20). Technically speaking, the support level of 155.20 may keep prices from further decline. If it breaks through, the pair may drop to 153.00. The upper limit of 158.00 represents a strong resistance level.
⦁ Resistance levels are: 156.80, 158.00, 160.20
⦁ Support levels are: 155.20, 153.00, 151.90
The main scenario for the pair's promotion assumes a breakout of the support of 155.20 (May 9-10 low, MA (200) H1) and 153.00 (May 1 low) and there may be a decrease to 151.90 (May 3 low)
An alternative scenario implies a breakout of the resistance of 156.80 (May 14 high) and there may be an increase to 158.00 (May 1 high)
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