Good day! Assessing the recent downward wave in the USD/JPY currency pair on the 4-hour chart, we can see that the local minimum, indicated by the "Zigzag" indicator, is significantly higher than the previous value at the level of 139.95. This is the first signal of a possible trend reversal to the upside, and at the moment, it is necessary to monitor the price increase in the USD/JPY currency pair and the establishment of the next local maximum. If it is also located above the current value, then the upward trend reversal will begin to be confirmed. For now, we see support from the bulls, with the upward turning 4-hour Stochastic, and I hope to receive additional drivers for the strengthening of the US dollar from the expected news from the US on the Consumer Confidence Index for April and the Job Openings and Labor Turnover Survey (JOLTS) at 17:00 Moscow time.
