During the Asian trading session on Wednesday the currency pair USD/JPY traded with a slight increase of quotes, staying within the current support level at 142.96 and resistance level around 144.70.
The moving averages with the period of 21 and 55 days continue a smooth upward movement preserving a slight divergence. The four-hour chart is progressing slightly above the exponential moving averages, which indicates in favor of an upward movement of this market in the short term.
The technical picture also shows that the buyers are getting stronger, as the MACD histogram is progressing above its center line, while the RSI strength indicator remains near the 60 line, which promises an uptrend in this market in the short term.
Thus, we intend to buy this trading instrument today.
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