FX.co ★ USD/JPY

We continue to monitor the attempts of bears in the USD/JPY pair to resume the decline after a bullish correction, during which buyers managed to recover all the losses that started last Friday and brought the pair back to the 156 level. There, bears resumed pressure on the pair, and by now, the price has already reached the support at 155.50, trying to break below the 14-period moving average line. However, it is precisely at this point that a four-hour mark of the "Zigzag" indicator appeared signaling the end of this downward wave, with the advisor fully switching to the bullish side. Based on this, it can be assumed that although not immediately, an attempt to resume growth is likely in the near future. In this case, the target for the bulls will be to reach the middle of the 156 level, essentially leading to the end of the last downward trend that we have observed since November 20 from the pair's high of 157.85, in favor of the north.