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- USD/JPY is trading near a weekly low
USD/JPY is trading near a weekly low
Today, the USD/JPY pair is trading in the range of 141.65-142.95 - near a weekly low. On the hourly chart, the pair remains slightly below the moving average line of MA (200) H1 (143.45) and on the four-hour chart below MA (200) H4 (144.20). Technically speaking, the support of 141.65 is still keeping USD/JPY from further decline. If this level is broken, the pair may fall to 140.30. The upper limit of 146.50 represents a strong resistance level.
⦁ Resistance levels are: 143.45, 144.70, 146.50
⦁ Support levels are: 141.65. 140.30, 139.70
The main scenario for the pair's promotion assumes a breakout of the session low of 141.65 and may be a decrease to 140.30 (Sept 17 low).
An alternative scenario implies a breakout of MA (200) H1 (143.45) and resistance of 144.70 (Sept 24 high) and there may be an increase to 146.50 (Sept 27 high).
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