FX.co ★ remington.kihn | USD/JPY

Hello traders, yen pairs, including USDJPY, have all started moving up together. Some are moving faster, some slower, but the main thing is that they are all heading in the same direction. Bulls in the USDJPY currency pair managed to break above 159.75 and are already approaching 159.95, but in this scenario they have a chance to continue rising towards 160.15 and 160.55-160.75. If the sentiment remains the same by then, the uptrend could continue towards 161.70 and 162.50. It seems like they don't want to go down, but everything can change in an instant, for example, against the backdrop of news. If sellers push the price of USDJPY back below 159.75, then they may be able to continue the downward movement towards 159.55, 159.40, and 159.20 - from these levels there could be a bounce back up and a resumption of the uptrend. Holding below 159.20 could lead to a decline towards 159.00, 158.80, and 158.60, and then the situation will need to be assessed based on the actual facts.