FX.co ★ kavon.collins | Game of Life: Visionary Insights into the Forex Market!

USD / JPY Hello traders and have a great weekend! We continue to analyze daily charts for major currency pairs, and in this case, I am looking at the movement of the US dollar against the Japanese yen. Here we can see that by the end of last week, buyers have tested the current high of the pair for the third time at 157.80. In a new attempt, they broke above the 158 level and set a new high at 158.15, indicating further development of the upward daily trend. Therefore, a short-term correction to the downside may be possible on Monday, but I believe it should not go below the support at 157.25. Even if the pair drops slightly lower, I expect the USD/JPY exchange rate to remain in an active buying area, trading above the rising 14-period moving average line and both bands of the rising trend indicator "2 EMA Color Alerts." Therefore, later on, if not from current positions, I anticipate further growth of USD/JPY with the main target set to reach the global level at 162.00.