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The USD/JPY broke the ascending channel by remaining almost flat. The rate declined and found support in the combination of the 50-hour simple moving average and the 141.00 mark.
In the case of the rate resuming its prior surge, it is expected to face resistance in the 142.00 level. Higher above, note the 142.70/143.00 zone and the weekly R1 simple pivot point at 143.24.
However, a potential decline below 141.00 would look for support in the 100-hour simple moving average near 140.69 and the weekly simple pivot point at 140.46. Below these levels, the 140.00 mark and the 200-hour SMA could act as support.
Tue, 25 Jul 2023 12:17:42 GMT
Source: Dukascopy Bank SA
The USD/JPY broke the ascending channel by remaining almost flat. The rate declined and found support in the combination of the 50-hour simple moving average and the 141.00 mark.
In the case of the rate resuming its prior surge, it is expected to face resistance in the 142.00 level. Higher above, note the 142.70/143.00 zone and the weekly R1 simple pivot point at 143.24.
However, a potential decline below 141.00 would look for support in the 100-hour simple moving average near 140.69 and the weekly simple pivot point at 140.46. Below these levels, the 140.00 mark and the 200-hour SMA could act as support.