FX.co ★ USD/JPY

Good Saturday evening. When considering how the USD/JPY currency pair will move on Monday, I would refrain from specific assessments, as we have negotiations between the US and Iran over the weekend, and we objectively cannot know what impact they will have on the economy, especially on the strength of the US dollar. However, the technical aspect for the 4-hour chart shows that trading last week for the USD/JPY pair ended in an upward phase. Having reached resistance at 159.35, we received a "Zigzag" indicator mark indicating the end of the four-hour uptrend, and the stochastic indicator pointed to overbought conditions of this currency pair and even began to signal a downturn. Therefore, from a technical perspective, the most likely price movement scenario for USD/JPY at the moment appears to be a decline towards the previous pair's low of 158.30, even with a slight initial upward bounce at the opening of trading. Confidence in the southward movement is also reinforced by the fact that since the end of March, specifically from the 30th, we have seen the formation of a descending four-hour trend in this currency pair, although the range of fluctuations is quite significant, the price peaks indicate a southern bias.