FX.co ★ USD/JPY

Hello everyone. Well, no matter how much I wanted to sell the USDJPY pair, I didn't do it, and recently I received a buy signal. Buying was preferable from the 100.0 Fibonacci level, from which the price clearly bounced off, and now there are no obstacles in the way of the bulls. An additional buying signal will be the strengthening of the dollar, which will push the price at least to the level of 160.84 in accordance with the 161.8 Fib extension, with a further target at 163.65 based on smaller swings below. We do have downside targets, but they are currently out of reach because the dollar is heading for a long-term strengthening, so there is no point in trading the decline at the moment. In terms of indicators, there is an accumulation of volumes in the overbought zone, indicating the strength of buyers in the market. So I think it's clear to everyone that there is currently no point in selling the pair.