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- The USD/JPY remains below MA 200 H1
The USD/JPY remains below MA 200 H1
Yesterday, USD/JPY traded lower and closed the day in the red near 152.70. Today, it traded in the range of 151.60-153.90, remaining near yesterday's closing price. On the hourly chart, USD/JPY is still trading below the MA (200) H1 moving average line (155.00). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points for sale at the end of the correction.
- Resistance levels are at: 155.00-20, 155.95, 156.65
- Support levels are at: 151.60, 151.30, 150.80
Probably, the main scenario is a continuation of the downward movement to 151.60 (session low).
The alternative scenario is consolidation above MA 200 H1, followed by growth to 157.85 (Jul 19 high).
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