FX.co ★ USD/JPY

Hello traders, The USDJPY pair is rising within the trading range according to the daily envelopes, and I predicted the continuation of the USDJPY pair's rise yesterday. Although the target on the daily scale is at the level of 157.73, the price has currently hit the upper resistance level on the four-hour scale. In other words, on the four-hour scale, we have already reached the target to the north, while on the daily scale, we are only halfway there. In such conditions, we usually expect a pullback to the middle on H4 and to the bottom on the daily scale, which is the support level at 154.67 in our case. Therefore, today I expect the USDJPY pair to decrease from the current level of 156.48 towards the support at 154.67.