Current price: 152.20
Key point: 150.90
Our preferred direction: Buy positions above 150.90 levels, targeting 153.20 as the first target, then 154.50 as the second target.
Alternative scenario: Stop loss and change direction by breaking the 150.50 level, targeting the 148.90 level.
Technical commentary
The USD/JPY pair is moving in an upward direction on the four-hour frame, above the 200-day moving average and above the pivotal support level of 150.90. The pair is expected to continue this rise, reaching the price of 153.20 and then the 154.50 levels.
