FX.co ★ remington.kihn | USD/JPY

Hello traders, The USDJPY pair has been testing the resistance zone from the hourly and four-hour Envelopes at 153.49 - 153.86 but failed to break above. It has already dropped to the current levels at 152.52. Without updating the minimum, a northward reversal is unlikely now since the support has shifted to 151.97 during this time. Therefore, I expect the USDJPY pair to decline from the current level of 152.50 towards the support at 151.97. I believe we will see a bounce from this support and a retest of the resistance zone at 153.49 - 153.86.