FX.co ★ remington.kihn | USD/JPY

USD/JPY H4 Prices have stopped almost at the support level 156.82 and, as can be seen, the moving average is above the prices and that is resistance and at the same time supports the pair's bearish bias. From this support, prices may move up and, after overcoming the moving average, go on to break the resistance 159.01. And a firm close above this resistance would be the continuation of the bullish outlook. If prices fall below the support, not all is lost for the bulls. The thing is there is another support at the level 155.20 which can also push prices up. But a close of prices below that level — yes, that would be the collapse of the bulls and the shift to a bearish outlook. Good luck to everyone.