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- USD/JPY is declining and testing MA (200) H1
USD/JPY is declining and testing MA (200) H1
Today, the USD/JPY pair is mainly declining in the range of 152.15-153.35, further retreating from the 4-month high of 154.75 reached earlier this week. On the hourly chart, the pair is testing the moving average line MA (200) H1 (152.90) and on the four-hour chart it remains above MA (200) H4 (149.45). Technically speaking, the support of 151.30 can keep USD/JPY from further decline. If this level is broken, the pair may fall to 150.50. The upper limit of 154.75 represents a strong resistance level.
⦁ Resistance levels are: 153.90, 154.75, 155.35
⦁ Support levels are: 151.30. 150.50, 149.10
The main scenario for the pair's promotion assumes a breakout of the resistance of 153.90 (Oct 28-29 high) and there may be an increase to 154.75 (Nov 6-7 high)
An alternative scenario implies a decrease to 151.30 (Nov 6 low) and then, maybe, to 150.50 (Oct 22 low)
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