Hello traders, Currency pair USD/JPY, technical analysis. The main focus will be on resistance and support levels, volumes, and basement indicators.
The pair has exited the range but is not yet ready for full-fledged trading, so I do not expect significant movements in the next few days. Let's see what the indicators show us. The pair has descended well but has not reached the target and has turned around. On the chart, it is visible that the pair tested the level of 155.45 and is currently trading at a price of 156.01. The RSI is moving in the middle of the range and confidently looking upwards, the AO is showing a good reversal signal for buying, and the pair's price is below the trading range of the previous day. The signals are very strong, indicating a potential rise. I assume that the price will test the resistance level at 156.95. Based on the analysis, cautious buying is recommended up to 156.85. However, remember that the market can be subject to sudden changes, so carefully assess your risks.
