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- The USD/JPY remains below MA 200 H1
The USD/JPY remains below MA 200 H1
Yesterday, the USD/JPY traded higher and closed the day in the positive territory near 150.40. Today it traded in a narrow range of 150.15-70, remaining near yesterday's closing price. On the hourly chart, USD/JPY is still trading below the MA (200) H1 moving average line (151.35). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points for sale at the end of the correction.
- Resistance levels are at: 151.20, 151.95, 152.45
- Support levels are at: 149.65, 148.65, 148.40
Probably, the main scenario is a continuation of the downward movement to 149.65 (Dec 4 low).
The alternative scenario suggests consolidation above MA 200 H1, with subsequent growth to 155.00 (Nov 22 high).
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