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- USD/JPY is growing and testing MA (200) H1
USD/JPY is growing and testing MA (200) H1
Today, the USD/JPY pair is mainly growing in the range of 149.10-150.90, further retreating from the 11-week low of 148.60 reached this week. There is an upward rebound after a long downward movement. On the hourly chart, USD/JPY is testing the MA (200) H1 moving average line (150.15), which may indicate continued growth. The MACD histogram (5,34,5) is confidently green and growing, which also indicates a positive momentum. The pair has approached the resistance of 150.90, which can cause either a breakdown of the level or a short-term correction. It is recommended to monitor the reaction of the price to 150.90 and confirmation of the breakdown. The lower limit of 148.55 represents a strong support level.
Resistance levels are: 150.90, 152.30, 153.85
Support levels are: 149.10, 148.55, 148.00
The main scenario for the pair's advance still implies a decline to the session low of 150.90 and then maybe to 148.55 (Feb 25 low)
An alternative scenario assumes a breakout of the session high of 150.90 and there may be an increase to 152.30 (Feb 19 high)
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