FX.co ★ USD/JPY

USD/JPY H1 ANALYSIS. I am currently assessing the performance of the USD/JPY currency pair and its price trends. The currency pair is showing a preference for buying due to its growth prospects. However, with its present price of 154.87, buying might be less profitable, so looking for suitable support, such as 154.54, with a stop loss at 154.52, is essential. There is an expected decline to targeted levels, which could offer profitable opportunities with a target of 155.73. The level of 154.80 may serve as an accumulation area, though minor. Today, there was an attempt to rise with a new high at 154.96, followed by a downward rebound, signalling a start to the decline. According to the daily chart, a probable downward target of around 149.54 was likely for sales. Transactions remain focused on selling to reach this level.

Currently, the USD/JPY chart on the H1 period reflects an uptrend supported by the price above the 133-day moving average, bolstering buying potential. Shorter intervals also show prices closing above this moving average, strengthening the case for buying. A return to 154.85 could signal buy trades. Selling is only likely if prices dip below 153.87. Presently, buying within the H1 uptrend is favored. Sales dominate at 81%, indicating caution but not necessarily signalling a decline, evident during recent trading sessions. Therefore, buying and selling are on hold as prices hover between resistance at 154.77-85 and support at 154.12-27. I am interested in observing price reactions at the 156 mark for upward breakouts and within the 152.63-153.47 support zone for downward pushes.