USDJPY – currency pair returned to sideways trend

01.03.2024

USD/JPY four-hour chart. The currency pair briefly left the horizontal channel formed between levels (8/8) and (+1/8). But the price was able to quickly return to the boundaries of the sidewall. Against this background, today we expect a retest, and probably a minor breakdown, of the upper boundary of the horizontal range. Thus, the currency pair expands the trading range. Medium-term priority is again the scenario with the growth of quotes towards the upper boundaries of the overbought area *+2/8).

Recommendations: Buy 150.00 TP 151.56