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- USD/JPY is rising, but remains slightly below MA (200) H1
USD/JPY is rising, but remains slightly below MA (200) H1
Today, the USD/JPY pair is mainly growing from 154.80 to 156.30 after falling yesterday to a 2-week low of 154.55. On the hourly chart, USD/JPY has fallen below the MA (200) H1 (156.70) moving average line and is testing MA (200) H4 (155.90) on the four-hour chart. Technically speaking, the resistance level of 156.50 can keep the pair from further growth. If it breaks through, the pair is likely to rise to 157.70. The lower limit of 153.60 represents a strong support level.
⦁ Resistance levels are: 156.50-70, 157.70, 158.00
⦁ Support levels are: 154.55, 153.60, 151.90
The main scenario for the pair's promotion assumes a decrease to 154.55 (June 4 low) and may be a decrease to 153.60 (May 16 low)
An alternative scenario implies a breakout of the resistance of 156.50-70 (June 4 high, MA (200) H1) and there may be an increase to 157.70 (May 29 high)
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