Hello traders! Once again, I turn to the analysis of the movement of quotes of the currency pair US Dollar/Japanese Yen on the daily chart and I will note that the recent wave of strengthening of the Japanese national currency was provoked by currency interventions by the Bank of Japan, as we have discussed repeatedly. And now, the main thing is to understand where the USD/JPY pair will move in the near future. I believe it will be a clear retracement by the bulls of the last downward wave by at least half, with the USD/JPY price rising to the middle of the 158th figure, as shown in my screenshot. However, the pair may move there either from current positions, within the development of the last bullish candle, or, respecting the position of the stochastic, bulls may allow it to complete the downward movement with a reversal upwards slightly later. Well, in case of the start of the ascent, which is fully supported by the advisor set on my chart, I expect the price to rise to the resistance at 158.55, assuming that the Japanese Yen has no real economic drivers for further strengthening.
