Today, the USD/JPY pair is trading with an increase from Y109. 75 to Y110. 10, having regained some of the positions lost yesterday (from Y110. 40 to Y109. 60). On the hourly chart, the pair is trying to test the strength of the moving average line MA (200) H1 (Y110.05). On the four-hour chart, the pair fell slightly below MA (200) H4 (Y110. 35). Technically speaking, the support level of Y109. 60 can keep prices from further decline. The Y110.60-70 area represents the resistance level.
⦁ Resistance levels are: Y110.40, Y110.60-70, Y111.20
⦁ Support levels are: Y109.60, Y109.30, Y109.05
The main scenario for the pair's promotion - a break of yesterday's high of Y110. 40 and there may be an increase to Y110. 60-70 (July 14 and 23-26 highs)
An alternative scenario - if the support of Y109. 60 (July 27 low) is broken, the pair may fall to Y109. 30 (July 20 low)
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