FX.co ★ USD/JPY

The currency pair USD/JPY is completely stuck in a range. Judging by the higher timeframes, there could be a potential correction to the downside, but the volatility in the last two days leaves much to be desired. Currently, the price is trading in the selling area, below the daily pivot level at 156.17, indicating a possible decline. The main downside target for today is located at the key support level of 155.44, but it is still far away, with two obstacles forming a support zone at 155.89/155.72 along the way. In such a sluggish market, passing through this zone will be challenging. Overall, I believe that we won't see anything interesting on this pair today; I will wait for the start of a new trading week and new intraday targets. Trading today is absolutely impractical.