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- USD/JPY is trading near a 7-week high
USD/JPY is trading near a 7-week high
Today, the USD/JPY pair is trading in the range of 158.65-159.15, having reached a 7-week high. On the hourly chart, the pair remains above the moving average line of MA (200) H1 (157.60) and on the four-hour chart above MA (200) H4 (156.60). Technically speaking, the resistance level of 159.15 can keep the pair from further growth. If it breaks through, the pair is likely to rise to 160.20. The lower limit of 156.60 represents a strong support level.
⦁ Resistance levels are: 159.15, 160.20, 161.00
⦁ Support levels are: 157.50-60, 156.60, 155.70
The main scenario for the pair's promotion assumes a breakout of the session high of 159.15 and may be an increase to 160.20 (April 29 high)
An alternative scenario implies a breakout of support 157.50-60 (June 18 low, MA (200) H1) and support 156.60 (June 13 low)
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