FX.co ★ USD/JPY

USDJPY Intraday Forecast: This article focuses on assessing the current price movement of the USD/JPY pair. The resistance level at 157.854 was tested without a breakout, but sellers then took control of the market and approached the support level at 157.134. The USD/JPY pair has experienced significant volatility today and may reach 157.134 as the night progresses. At this point, a consolidation below this level or a breakout above this level could form an entry point, suggesting a buying opportunity. We recommend waiting until an accurate entry point is formed before placing a trade. It is important to ensure there is a confirmation signal to avoid a false breakout that could lead to a trend reversal. The USD/JPY pair is primarily in an uptrend.

As the zigzag indicator shows, extreme points are showing significant increases on the H1 timeframe, with higher lows and higher highs. The 119-minute moving average, a trend indicator, is below the price, indicating strong buying pressure. Buying from the 157.224 level is favored today. The first take profit target is 157.624, the second is 158.024, with a stop loss at 156.924. A consolidation at 156.624 could signal a change in market conditions and lead to a sell consideration. A recovery could provide a direct selling opportunity, with a take profit target of 156.224 and a stop loss of 156.924. A shorter timeframe, the 15-minute chart, is more appropriate for confirming the signal. On the 15-minute USD/JPY chart, the moving averages and zigzag indicator suggest a buy.