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- USD/JPY is declining and testing MA (200) H1
USD/JPY is declining and testing MA (200) H1
Today, the USD/JPY pair is trading with a decline from Y110. 25 to Y109. 85, retreating from the almost one-month high of Y110. 45 reached yesterday. On the hourly chart, the pair tests the moving average line MA (200) H1 (Y110. 00) and on the four - hour chart-MA (200) H4 (Y109. 85). Technically speaking, the session low Y109.85 can keep prices down further. The upper bound of Y110. 45 represents the support level. The most probable range of the pair's movement for today can be hidden within the range Y109. 85-110. 45.
⦁ Resistance levels are: Y110.10, Y110.45-55, Y110.80
⦁ Support levels are: Y109.85, Y109.60, Y109.40
The main scenario for the pair's promotion — if the session low and the level of MA (200) H4 (Y109. 85) are broken, the pair may fall to Y109. 60 (September 3 low)
An alternative scenario — growth to the resistance of Y110. 10 (September 2 high) and then, maybe, to Y110. 45 (September 8 high)
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