FX.co ★ remington.kihn | USD/JPY

Bulls managed to push the USDJPY price back above 159.60, giving them the opportunity to continue rising towards 159.75 and 159.95. If they can hold above 159.95, then the upward movement may continue towards 160.15. In case of a successful breakthrough of this level, the price could move towards 160.35, 160.55, and 160.95. Achieving this plan would make the rise towards 161.70 or even 162.50 more realistic. If sellers are able to push the USDJPY price back below 159.40, the decline could extend to 159.20, 159.00, 158.80, and 158.60. Successfully breaking below these levels would open the way for bears towards 158.40, 158.20, 158.00, and possibly down to 157.80-157.60. Important news affecting the US dollar will be released tonight, which could lead to increased activity. Let's wait and see.