FX.co ★ remington.kihn | USD/JPY

Hello traders. It can be said that USD/JPY has almost completed the downward cycle, and it would be ideal to test the EMA200 and then bounce off this moving average with a reversal for an upward movement. However, such a move may occur during the Asian session when there is data from Japan. I am still waiting for a reversal from this zone for further growth, although it is necessary to demonstrate an exit from the downtrend upwards by closing above the EMA50, which is located at the level of 155.65. For now, USD/JPY is testing resistance at 155. If USD/JPY bounces off 155, we will see the formation of a trading range for some time between the levels of 155 and 154.35. Essentially, today's statistics on initial jobless claims in the US showed that the US labor market is not falling as much as some would like to show, and based on this, the Fed may not actually cut rates. Doubts on this issue still remain.