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- USD/JPY is testing the support of the MA (200) H1
USD/JPY is testing the support of the MA (200) H1
Today, the USD/JPY pair is trading in the Y103.60-85 range and testing the MA (200) H1 (Y103. 70) moving average line. On the four-hour chart, the situation is similar. Technically speaking, a strong resistance level of Y104. 20 can keep the pair from rising. If it breaks through, the price can soar to Y104. 40. The lower limit of Y103. 50 is the support level. If it is broken, the pair may fall to Y102. 95. The most likely range of movement of the pair for today may be hidden within the range of Y103. 50-104. 20.
⦁ Resistance levels are: Y103.85, Y104.20-40, Y104.60
⦁ Support levels are: Y103.50, Y102.95, Y102.60
The main scenario for the pair's promotion - breakout of support Y103.50 (January 13 low) and maybe a decline in the pair to Y102.95 (January 7 low)
An alternative scenario - correction and growth of the pair to Y104. 20-40 (January 11-12 and 14 lows)
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