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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 144.25-85 and remains slightly below the MA (200) H1 moving average line (145.20) on the hourly chart. On the four-hour chart, the pair is also trading below MA (200) H4 (149.75). Technically speaking, the support of 143.40 is still keeping USD/JPY from further decline. In case of breaking through this level, the pair may fall to 141.70. The upper limit of 147.40 represents a strong resistance level.
⦁ Resistance levels are: 145.20, 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 (Aug 27 high, MA (200) H1) and there may be an increase to 147.40 (Aug 20 high)
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