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05.01.2024 05:39 AM
The USD/JPY chart is currently experiencing significant resistance levels, indicating the potential for a bearish breakout.
Resistance Levels:
The 1st resistance level at 144.92 is characterized as "An Overlap resistance." This level represents a strong barrier to further upward price movement. Additionally, the 2nd resistance level at 146.54 is also identified as "An Overlap resistance," further highlighting its role as a significant resistance zone.
Support Levels:
On the support side, the 1st support level at 142.94 is described as "An Overlap support." This level suggests a potential area where buying interest may emerge and could act as a crucial support zone. Further down, the 2nd support at 141.89 is also characterized as "An Overlap support," reinforcing its significance as a substantial support level.
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