FX.co ★ USD/JPY

As of Friday, it seems that the bullish correction on the four-hour chart for the USD/JPY currency pair is likely completed. Bulls have retested the key level of 154.00, but this time there is a significant difference: the "Zigzag" indicator marked the end of the uptrend when the Stochastic reached the overbought territory. This indicates that from the current position, the pair may start a new downward wave, especially since it remains at the lower boundary of the falling TMA trend indicator. Bears have already opened their four-hour candle and are trading the pair at a rate of 153.80 Japanese yen per 1 US dollar, so I believe we will see further decline towards the minimum of 152.15 with the aim of breaking through it and moving below the 152 level. The question is whether we will achieve this today or postpone it to the next week.