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- USD/JPY tests MA (200) H1
USD/JPY tests MA (200) H1
Today, the USD/JPY pair is mainly declining from 150.15 to 149.10. On the hourly timeframe, the pair shows a corrective decline after growth, which is confirmed by the current price movement below the MA (200) H1 moving average line (149.90). USD/JPY is trading near 149.15, and further downward movement may lead to testing of the nearest supports. The MACD indicator shows a weakening of the bullish momentum and a possible development of downward dynamics, which may increase pressure on the price. In case of consolidation below 148.70, a further decline to 148.15 and below is likely. An alternative scenario involves a return above 150.30, which may lead to testing of the maximum values.
Resistance levels are: 150.30, 151.20-30, 152.30
Support levels are: 148.70, 148.15, 147.40
The main scenario for the pair's advance implies a breakout of the resistance of 150.30 (March 31 high) and there may be an increase to (151.20-30 (March 3 and 28 highs)
An alternative scenario suggests a breakout of 148.70 (March 31 low) and there may be a decline to 148.15 (March 20 low)
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