19:45 USD/JPY is trading near a near three-year high
Today, the USD/JPY pair is trading in the Y113.29-60 range - near an almost three-year high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (Y112.25) and on the four-hour chart - above MA (200) H4 (Y110.70). In this situation, the scenario of further growth of the USD/JPY pair is likely.
Although it is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the level of 70, which signals a possible change in the direction of price movement.
⦁ Resistance levels are: Y113.80, Y114.05-15, Y114.55
⦁ Support levels are: Y113.00, Y112.15-25, Y111.50
The main scenario for the pair's promotion — resistance breakout is Y113.80 (October 12-13 high) and there may be an increase to Y114.05-15 (November 8-13 and 28’ 2018 and December 3’ 2018)
An alternative scenario — support breakout is Y113.00 (October 12 low) and there may be a decline to Y112.15-25 (October 11 low, MA (200) H1)
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