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- USD/JPY can test the strength of MA (200) H1.
USD/JPY can test the strength of MA (200) H1.
Today, the USD/JPY pair is trading in the range of 153.60-154.95 and on the hourly chart it can test the strength of the MA (200) H1 (155.35) moving average line. On the four-hour chart, the pair is testing MA (200) H4 (154.30). Technically speaking, the support level of 153.60 can keep prices from further decline. If it breaks through, the pair may fall to 151.90. The upper limit of 156.80 represents a strong resistance level.
⦁ Resistance levels are: 155.35, 156.80, 158.00
⦁ Support levels are: 153.60, 151.90, 150.80
The main scenario for the pair's promotion assumes a breakout of the session low of 153.60 and may be a decrease to 151.90 (May 3 low)
An alternative scenario implies a breakout of MA (200) H1 (155.35) and there may be an increase to 156.80 (May 14 high)
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