Hello traders, Currency pair USD/JPY, technical analysis. The main focus will be on resistance and support levels, volumes, and basement indicators.
The pair tested the resistance level, pulled back slightly, and is now attempting to test the resistance level slightly higher. Let's see what the indicators show us. The pair rose nicely, hit the target precisely, and reversed. On the chart, it is visible that the pair tested the level of 159.25 and is currently trading at a price of 159.38. The RSI is moving in the middle of the range and hesitantly looking upwards, the AO is showing a good selling signal, and the pair's price is above the previous day's trading range. The signals are not very strong, but there is a possibility of a slight increase. I assume that the price will test the resistance level of 159.90. Based on the analysis, cautious purchases are recommended up to 159.80. However, remember that the market can be subject to sudden changes, so carefully assess your risks.
