USD/JPY Н4 Murrey Levels
Before the weekend, the quotes of the pair tested the support at the 4/8 level, and as a result, they closed above the 5/8 level, indicating that the bullish sentiment for the pair has not dissipated yet. The moving average is currently slightly above the quotes and could act as a resistance sending the quotes back down. To continue the bearish trend, it is necessary to drop below the 3/8 level and consolidate below it. On the other hand, to continue the bullish direction from the current levels, it is essential to open above both the moving average and the 6/8 level. Wishing everyone a successful trading day.
