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- The USD/JPY slightly down
The USD/JPY slightly down
Yesterday USD/JPY traded higher and closed the day in the positive territory around 155.40. Today it on the contrary slightly fell, dropping to 154.90. On the hourly chart USD/JPY is still trading above the moving average line MA (200) H1 (154.80). On the four-hour chart the situation is similar. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above MA 200 H1, it may be necessary to look for entry points for buying at the end of the correction.
- Resistance levels are at: 155.85, 156.75, 157.15
- Support levels are at: 154.55, 153.30-40, 152.55
Probably, the main scenario is a continuation of the upward movement to 155.85 (Nov 20 high).
The alternative scenario suggests consolidation below MA 200 H1, followed by a fall to 153.30 (Nov 19 low).
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