FX.co ★ remington.kihn | USD/JPY

Buyers in the USDJPY currency pair continue to try to break above 157.25-157.35, but so far they have not been able to hold above. The range is narrowing, so there is still a possibility of overcoming this barrier. Holding above 157.25-157.40 will open the way for bulls towards 157.80. After securing above 157.80, the upward movement can continue towards 158.20 and 158.60. If these levels are also surpassed, then the USDJPY growth can continue to 159.00 and 159.40, with levels of 160.15 and 160.55-160.75 becoming realistic targets. If sellers prove to be stronger and manage to push the price below 157.00, then downside movement may extend to 156.65 and 156.25. Subsequent consolidation below 156.25 could lead to a decline towards 155.85 and 155.45.