FX.co ★ remington.kihn | USD/JPY

Hello traders, The situation with the USDJPY pair is not particularly tradable for me at the moment, as on the daily timeframe, there is a continuation of the uptrend since the price has closed above the 154.37 support level for more than one daily candle, indicating the bottom of the daily trading range according to Envelopes. This suggests a preference for buying. However, to confirm buying opportunities from the four-hour timeframe, we need a close above the 155.37 level. As long as this breakout has not occurred and we are below the 155.37 level, the four-hour timeframe is giving a bearish signal. Consequently, the USDJPY pair is currently trapped between the 154.37 and 155.37 levels.