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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 153.35-80 after rising on Monday to a 3-week high of 154.50. On the hourly chart, the pair rose above the moving average line MA (200) H1 (152.35) and on the four-hour chart slightly above MA (200) H4 (152.90). Technically speaking, the resistance of 154.50 has so far kept USD/JPY from further growth. If this level is broken, the pair may rise to 155.00. The lower limit of 151.80 represents a strong support level.
⦁ Resistance levels are: 154.50, 155.00, 155.90
⦁ Support levels are: 153.15, 151.80, 150.90
The main scenario for the pair's promotion assumes a breakout of the resistance of 154.50 (Dec 16 high) and there may be an increase to 155.00 (Nov 22 high).
An alternative scenario implies a breakout of support at 153.15 (Dec 17 low) and there may be a decrease of 151.80 (Dec 12 low).
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