FX.co ★ USD/JPY

Hello traders, The USD/JPY pair has reached the peak of growth on the four-hour timeframe and the Envelopes indicator shows a resistance level at 159.76. Currently, there has been a slight pullback, and the pair is trading at the level of 159.35. Additionally, the level from the daily timeframe that we have broken through and now need to retest from above is at 157.99. Therefore, I expect the USD/JPY pair to continue its decline today, with the target being the support level at 157.99, where many things will be decided. If the daily candle closes below the level of 157.99 today, we will see a full reversal to the south on the daily and four-hour timeframes.