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- USD/JPY drops to 2-month low
USD/JPY drops to 2-month low
Today, the USD/JPY pair is mainly declining from 156.00 to 154.20, reaching a 2-month low. On the hourly chart, the pair has consolidated below the moving average line MA (200) H1 (157.20). The situation is similar on the four-hour chart. Technically speaking, the support of 153.60 may keep the pair from further decline. If this level is broken, the pair may fall to 151.90. The upper limit of 157.85 represents a strong resistance level.
⦁ Resistance levels are: 156.00, 157.85, 159.45
⦁ Support levels are: 153.60, 151.90, 150.80
The main scenario for the pair's promotion assumes a breakout of the support of 153.60 (May 15 low) and there may be a decrease of 151.90 (May 1 low)
An alternative scenario implies an increase to the session maximum of 156.00 and then, maybe, to 157.85 (July 19 high)
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