FX.co ★ USD/JPY range pattern

USD/JPY upside stopped

The USD/JPY pair moves sideways in the short term between 113.80 and 112.76 levels. As you already know from my previous analyses, the currency pair could develop a larger downside movement only if it drops below the 112.76 level.

On the other hand, staying above 112.76 and jumping above the 113.80 previous high could signal an upside continuation. In the short term, it could continue to move sideways before printing a strong move in one direction. Escaping from this pattern could bring great trading opportunities.

USD/JPY trading conclusion

Passing and stabilizing above the 113.80 could announce further growth towards 115.00 psychological level and up to 115.48 higher high.