FX.co ★ remington.kihn | USD/JPY

On the 4-hour chart of USD/JPY, a dynamic trading session unfolded. The week started with a sharp decline, during which the pair not only broke below the lower boundary of the ascending channel but also reached a key support at 148.59. However, the market quickly reacted to this level - there was a lively bounce back, bringing the price back to around 149.00, indicating ongoing market uncertainty. Technical indicators are showing a conflicting picture. Although AO and RSI are showing selling pressure, confirming the recent bearish impulse, the strength of the bounce from the support raises concerns about a possible exhaustion of the downward movement. Particularly noteworthy is the price action at the key level of 148.59 - a clear reaction at this level indicates its significance for market participants. Current price levels look especially important: Support at 148.59 (successfully held up during the initial test) Resistance at 151.20 (previous high) In the upcoming trading sessions, one should expect either a continuation of the corrective recovery towards the 150.00-150.50 zone or a retest of the support at 148.59. Special attention should be paid to the behavior of the indicators - if AO and RSI start turning upwards during the next approach to the support, it could signal a bottom formation. However, if the current bearish momentum on the indicators persists, a break below 148.59 with a move towards a deeper correction is not ruled out.