With the EMA 50 condition which is above the EMA 200 on the 4 hour chart, it gives an indication that the Golden Cross condition confirms that Buyers are still dominant in USD/JPY at this time where in the near future it has the potential to test the 157.50 level but as long as it does not penetrate above 157.70 then USD/ JPY still has the potential to be corrected down to level 156.65. If this level is successfully broken down, USD/JPY will continue its weakening to level 156.00 as the main target and level 155.60 as the next target to be aimed at.
(Disclaimer)
