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- USD/JPY is trading near a 3-week high
USD/JPY is trading near a 3-week high
Today, the USD/JPY pair is trading in the range of 153.30-154.10, having reached a new 3-week high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (151.55) and on the four-hour chart slightly above MA (200) H4 (152.90). Technically speaking, the resistance of 155.00 can keep USD/JPY from further growth. If this level is broken, the pair may rise to 155.90. The lower limit of 150.90 represents a strong support level.
⦁ Resistance levels are: 155.00, 155.90, 156.75
⦁ Support levels are: 153.30, 151.55-75, 150.90
The main scenario for the pair's promotion assumes an increase to 155.00 (Nov 22 high) and then, maybe, to 155.90 (Nov 20 high)
An alternative scenario implies a breakout of the session minimum of 153.30 and there may be a decrease of 151.55-75 (Dec 12 low, MA (200) H1).
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