FX.co ★ USD/JPY

It is worth noting that the recent days for the USDJPY pair have been very lively and volatile. It seems like there is still an upward movement, especially since on Friday there was a significant increase, closing above 159, almost engulfing the previous decline, and leaving a pin on the weekly chart. On the other hand, this rise can still be considered a pullback, as the bearish initiative has not been broken yet, which seems to disrupt the upward movement. A consolidation area has formed around 157.25, indicating potential downside movement. Of course, it is important to mention that Powell spoke yesterday, so there might be a gap. However, I am already looking south, and if we reach 159.55, I will sell.