FX.co ★ USD/JPY

The USD/JPY pair on the H1 timeframe is trading above the daily open level of 158.88 and above the daily Pivot level of 158.75. The main indicators are showing neutral, and the price is trading near the MA72 trendline, where volume unloading usually takes place. Above the 158.99 level, the price will move to the 159.12 level and possibly to the 159.40 level and higher. Below the 158.99 level, the pair’s decline will continue to the 158.81 level and possibly to the 158.60 level and lower. USD/JPY is trading below the monthly Pivot level of 159.68 (previous 161.50), above the weekly Pivot level of 158.81 and above the daily Pivot level, which indicates a corrective sentiment for the pair. The fork at this hour of the session is the daily Pivot level of 158.99. The first resistance is the 159.12 level, the first support is 158.81.