FX.co ★ remington.kihn | USD/JPY

The USD/JPY pair on the H1 timeframe is trading above the daily open level of 162.63 and above the daily Pivot level of 162.35. The main indicators are pointing north and the price is trading above the MA72 trendline, where unloading by volume usually takes place. Above the 162.70 level, the price will head towards 162.83 and possibly to 162.99 and higher. Below the 162.70 level, the pair’s decline will continue towards 162.48 and possibly to 162.35 and lower. USD/JPY is trading above the monthly Pivot level of 161.50 (previous 157.96), above the weekly Pivot level of 161.58 and above the daily Pivot level, which tells us the pair has a bullish (northbound) bias. The fork (decision point) for this session at the moment is the 162.70 level. The first resistance is at 162.83, the first support at 162.49.