The USD/JPY pair today does not confirm signals from major currencies where a decline in the US Dollar is expected. In the USD/JPY pair, there is consolidation in the buying zone on the hourly and four-hour timeframe above the level of 161.64 according to Envelopes indicators, and at the moment we are outside the trading range on the daily timeframe, which thus remains inactive. Therefore, as long as the price for the USD/JPY pair is held above the support level of 161.64, a continuation of the price increase is observed, with a rise from the current levels of 161.87 further north towards the resistance at 162.55. Only a return of the pair below the level of 161.64 with the closing of at least an hourly candle will restore my belief in a southward movement for the USD/JPY pair.
