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- USD/JPY is testing MA (200) H1
USD/JPY is testing MA (200) H1
Today, the USD/JPY pair is trading in the range of 156.70-157.20 after falling last week to a 2-week low of 154.55. On the hourly chart, USD/JPY is testing the MA (200) H1 moving average line (156.45) and on the four-hour chart it rose slightly above MA (200) H4 (156.00). Technically speaking, the resistance level of 157.20 can keep the pair from further growth. If it breaks through, the pair is likely to rise to 157.70. The lower limit of 154.55 represents a strong support level.
⦁ Resistance levels are: 157.20, 157.70, 158.00
⦁ Support levels are: 156.45, 155.10, 154.55
The main scenario for the pair's advance assumes a rush of MA (200) H1 (156.45) and may be a decrease to 155.10 (June 7 low)
An alternative scenario implies a breakout of the session high of 157.20 and may be an increase to 157.70 (May 29 high)
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