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13.08.2024 06:05 AM
Looking at the condition of the main currency pair USD/JPY on the 4-hour chart, although there is currently a strengthening correction, in general it is still under seller pressure, this can be seen from the EMA 20 which is still below the EMA 50 even though the price movement is in the middle of the two EMAs, which indicates that a Sideways condition is occurring, but with the appearance of deviations from the price movement of USD/JPY which makes Higher-High while the Stochastic Oscillator indicator actually forms a Higher Low, it emphasizes that in the near future there will be a weakening again in USD/JPY where 144.08 will be tested if this level is strong enough to withstand the rate of weakening, then USD/JPY has the potential to strengthen again to the level of 148.23, even if this level is successfully broken upwards, 150.87 will be the main target to be aimed at and if the momentum and volatility support it, then 153.20 will be the next target that will be tried to be pursued and tested.
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