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- USD/JPY is testing MA (200) H1
USD/JPY is testing MA (200) H1
Today, the USD/JPY pair is trading in the range of 153.50-154.75 and on the hourly chart it can test the strength of the MA (200) H1 (155.00) moving average line. On the four-hour chart, the pair remains above MA (200) H4 (152.45). Technically speaking, the support of 153.30 can keep USD/JPY from further decline. If this level is broken, the pair may fall to 152.15. The upper limit of 155.90 represents a strong resistance level.
⦁ Resistance levels are: 155.00, 155.90, 156.75
⦁ Support levels are: 153.30 152.15, 151.30
The main scenario for the pair's promotion assumes a breakout of the resistance of 155.00 (Nov 22 high, MA (200) H1) and there may be an increase to 155.90 (Nov 20 high)
An alternative scenario implies a breakout of support at 153.30 (Nov 19 low) and may be a decrease to 152.15 (Nov 8 low)
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