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- USD/JPY remains below MA (200) H1
USD/JPY remains below MA (200) H1
Today, the USD/JPY pair is trading in the range of 143.65-144.65 after yesterday retreating from a 3-week low of 143.40. On the hourly chart, the pair remains slightly below the moving average line of MA (200) H1 (145.60) and on the four-hour chart below MA (200) H4 (150.20). Technically speaking, the support of 143.40 still keeps USD/JPY from further decline. If this level is broken, the pair may fall to 141.70. The upper limit of 147.40 represents a strong resistance level.
⦁ Resistance levels are: 145.20-60, 147.40, 159.45
⦁ Support levels are: 143.40, 141.70, 140.25
The main scenario for the pair's promotion assumes a breakout of support at 143.40 (Aug 26 low) and may be a decline to 141.70 (Aug 5 low)
An alternative scenario implies a breakout of 145.20-60 (Aug 27 high, MA (200) H1) and there may be an increase to 147.40 (Aug 20 high)
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