FX.co ★ USD/JPY

Hello traders, the currency pair USD/JPY is currently near local levels at 156.81. I will consider entering a long position once the buyer is able to establish above the peak at 157.48. The first level for profit-taking will be the supply zone at 155.45. In this case, my stop order will be set below the minimum at 156.21, where a bullish impulse is likely to emerge. Similarly, I will consider entering a short position as soon as the seller can push the price below the minimum at 155.29 and hold below it. This range will then pave the way for a decline towards the buyers' zone at 156.48. I will initiate a sell signal when the EMA indicator with a period of 13-50 gives a signal.