FX.co ★ remington.kihn | USD/JPY

In the USD/JPY pair today, there is a signal for a continuation of the price decline according to Envelopes. The USD/JPY pair has settled in the selling zone of the envelope on a four-hour timeframe below the resistance level of 159.21, currently trading at 158.68. From a technical standpoint, we may see a rise today from the current 158.68 to the resistance at 159.21 before another wave of selling for the pair ensues. The targets for the decline of the USD/JPY pair are the lower boundary of the four-hour trading range based on Envelopes, which corresponds to a deviation of -1% from the 55-day moving average, at the level of 157.44.