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- USD/JPY reaches monthly high
USD/JPY reaches monthly high
Today, the USD/JPY pair is mainly growing in the range of 150.05-151.10, reaching a monthly maximum. On the hourly timeframe, the pair is showing an uptrend, breaking through key resistance levels. The price is trading above the MA (200) H1 moving average line (149.60), which confirms the strength of buyers. The nearest resistance is around 151.10, where the price has recently rebounded. Support is located at 150.05, while stronger support is in the area of 149.60, where the 200-period EMA runs. The MACD indicator shows a growing momentum, which may indicate a continuation of the upward movement. However, corrective pullbacks to the nearest support levels are possible before continuing growth.
Resistance levels are: 151.10, 151.30, 152.30
Support levels are: 150.05, 149.45-60, 148.60
The main scenario for the pair's advance implies a breakout of the session high of 151.10 and there may be an increase to 151.20 (Feb 22 high)
An alternative scenario suggests a breakout of the session low of 150.05 and there may be a decline to 149.45-60 (March 24-25 lows, MA (200) H1)
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