Currency pair
USD/JPY, technical analysis. We will focus mainly on resistance and support levels, volumes, and lower-window indicators.
The price did not go down, but instead tried again to break the high, though it seems that didn’t work out. The pair tested the resistance level and is now trying to move toward the support level. Let’s see what the indicators show us. The pair moved down slightly but did not reach the target and reversed. The chart shows that the pair tested the 162.50 level and is now trading at 162.47. RSI is moving in the middle of the range and is hesitantly pointing down, AO is giving a weak buy signal, and the pair’s price is above the previous day’s trading range. The signals are not very strong, but there is a chance of a small decline. I assume the price will test the 161.85 support level. Based on the analysis, cautious selling down to 161.95 is recommended. However, remember that the market can be subject to sudden changes, so carefully assess your risks.
