Currency pair USD/JPY, technical analysis. The main focus will be on resistance and support levels, volumes, and basement indicators.
The pair tested the support level, bounced back, and is now preparing for a correction. Let's see what the indicators will show us. The pair slightly dropped but did not reach the target and reversed. On the chart, it is visible that the pair tested the level of 155.75 and is currently trading at a price of 156.39. The RSI is moving in the middle of the range and confidently pointing upwards, the AO is showing a weak buy signal, and the pair's price is within the trading range of the previous day. The signals are not very strong, but there is a possibility of a slight increase. I assume that the price will test the resistance level of 156.90. Based on the analysis, cautious buying is recommended up to 156.80. However, remember that the market can be subject to sudden changes, so carefully assess your risks.
