FX.co ★ USD/JPY

On the H1 timeframe chart, a bearish movement prevails on the USDJPY currency pair, with sellers currently stronger than buyers. The strength of sellers is confirmed by the 120-period moving average, which is above the price. The ZigZag indicator also shows a descending structure, as significant lows and highs are decreasing. The continuation of the downward movement is indicated by the hourly candle closing at the level of 156.20. Therefore, selling is more advantageous than buying. I plan to sell with two orders from the price level of 156.30, aiming to take the first profit at 155.90 and considering 155.50 as the second target. Losses will be accepted at the level of 156.60. Buying is only advisable after the pair breaks through and consolidates above the price level of 156.90. For buying, the take profit can be set at 157.30, while the stop loss is placed at 156.60.

For a more precise entry into the sale, it is best to use the fifteen-minute chart.