FX.co ★ remington.kihn | USD/JPY

USD/JPY Good evening! By the end of the past trading week, in the USD/JPY pair we have the following results: within the development of the four-hour uptrend, the bulls have reached a high at 161.90. The current global high of the pair at the beginning of the 162nd figure has not yet been updated, but I think this will happen in the near future. Going into the weekend, the US dollar is trading against the Japanese yen at 161.76, which in any case is above the rising 14-period moving average line and above the Murray reversal level 6/8 – 161.72. I believe that with the support of the rising four-hour stochastic, next week we should expect further northward movement of the pair, and I assume that the global high of the pair will indeed be renewed. In this regard, I expect an impulsive rise from the bulls, and then everything will depend on how soon the Bank of Japan can carry out a currency intervention in the market in order to prevent further weakening of the national Japanese currency.