FX.co ★ remington.kihn | USD/JPY

Assessing the current positions on the USD/JPY currency pair, I come to the conclusion that next week we should expect a continuation of the bullish correction that started from the key level of 155.00, transitioning to a full-fledged growth within the ascending four-hour trend. I believe that the market has fully priced in the decrease in the US Federal Reserve interest rate and the negative data on the increase in the number of initial jobless claims in the US, and now we should expect a gradual strengthening of the US dollar. This is already happening, but for now, the bulls have encountered resistance from sellers near the key level of 156.00, which is quite normal as the 14-period moving average also intersects here. However, even in the face of a potential new decline, the USD/JPY price remains at 155.83, above the upper boundary of the growing trend indicator "2 EMA Color Alerts," whose bands are expanding, indicating the development of a long-term uptrend. Therefore, I believe that next week we should initially expect a price increase towards the resistance at 156.50, followed by a slight zigzag downwards, and then a continuation of the upward movement aiming to renew the pair's current maximum towards the resistance at 157.15.