FX.co ★ remington.kihn | USD/JPY

USD/JPY Н4 The support at the level of 158.50 pushed the quotes to the north, and at the moment they are trading above the moving average. In this scenario, the moving average acts as support, increasing the possibility of overcoming the resistance at the level of 159.90. It is necessary to surpass this level in order to continue the upward direction. However, just surpassing it is only half the battle; it is also necessary for the quotes to consolidate above this level, and then the upward trend will continue. On the other hand, dropping below the moving average presents an opportunity to head back to the support at 158.50, and then we will see what happens next. Wishing everyone success.