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- USD/JPY is growing and testing MA (200) H1
USD/JPY is growing and testing MA (200) H1
Today, the USD/JPY pair is mainly growing in the range of 153.85-155.20 and is testing the MA (200) H1 moving average line (154.40) on the hourly chart. The pair is trading slightly below the 4-month high of 156.80 reached last week. On the four-hour chart, USD/JPY remains above MA (200) H4 (151.40). Technically speaking, the resistance of 156.80 can keep USD/JPY from further growth. If this level is broken, the pair may rise to 157.90. The lower limit of 153.40 represents a strong support level.
⦁ Resistance levels are: 156.80, 157.90, 159.50
⦁ Support levels are: 153.40-85. 152.10, 151.30
The main scenario for the pair's promotion assumes a breakout of resistance of 156.80 (Nov 15 high) and may be an increase to 157.90 (July 19 high)
An alternative scenario implies a breakout of the support area of 153.40-85 (Nov 12 and 15 lows) and there may be a decrease to 152.10 (Nov 8 low)
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