Hello and have a great Saturday! Continuing to analyze the four-hour situation in the movement of the quotes of the US dollar against the Japanese yen, I note that the pair overall continues to move north, but the pace of this movement has noticeably slowed down. At the same time, for quite a long time, the pair consolidated, unable to overcome the resistance at 159.35, but last week it happened. However, after reaching the level of 159.65, by the end of the week, the USD/JPY pair returned to the consolidation range, once again settling below the level of 159.35. We can see that the further growth of the pair is supported by the rising four-hour stochastic and the advisor installed on the chart, with the last H4 candle remaining bullish and positioned above the upper boundary of the rising trend indicator 2EMA. Therefore, it is more likely to assume that the US dollar's rise will continue, with a maximum rise towards the resistance range of 159.80 - 160.00. We will see how the situation develops, but I would like to remind you that bulls may expect a similar surprise to what they received at the end of April, related to the Bank of Japan conducting currency interventions in the market, pushing the USD/JPY pair down by more than 5 figures.
