FX.co ★ remington.kihn | USD/JPY

Buyers in the USDJPY pair lack the momentum to resume growth. Of course, a small part of the losses from the large-scale decline has been recovered, but it’s just a drop in the ocean. If the bulls are really set on further upside, they need to consolidate above 157.80; after that, they can move toward 158.60 and 159.40. Once they successfully consolidate above 159.40, the path will open for buyers to 160.95 and 162.50, and then the real target will become the 163.30 level. If the 157.80 level still holds, then sellers will have the opportunity to push down to 157.05. If price consolidates below 157.05, a decline in USDJPY to 156.25 and 155.45 will become possible.