FX.co ★ Mr_Ambani | USD/JPY

Technical Analysis USD/JPY H-4 Chart Hello everyone, technical analysis for the USD/JPY currency pair on the H4 chart: General conditions: A price above the MA50 and MA200 shows a bullish trend. This shows that medium-term and long-term buying sentiment prevails. The level of 154.16 is the current price point and if the price continues to trade above the mentioned moving averages, it may signal a possible further growth. Support and Resistance Levels: It is important to identify key support and resistance levels. You can focus on recent highs. If the price tests the support level, this may be an excellent opportunity to buy (if the bullish signal is confirmed). Identify nearby resistance levels; if the price breaks through them, it may signal continued growth. Indicators: Check other indicators such as RSI (Relative Strength Index) or MACD to see if there are any overbought or oversold signals. If the RSI is above 70, this may show overbought conditions, which may lead to a correction. Chart Formation: Look for candlestick patterns or chart formations (such as flags, triangles) that can provide additional directional signals. Forecast: If the current bullish dynamics continue and the price remains above the MA50 and MA200, we can consider buying direct nearby resistance levels with targets. Happen a correction, one should pay attention to support levels that may lead to resume the bullish trend. Conclusion Overall, the current situation on the chart shows a positive trend for USD/JPY, but it is always important to consider the possibility of market volatility. It is recommended to monitor economic news and events that may affect the currency pair.