During the Asian trading session on Tuesday, the USD/JPY currency pair is trading with a slight increase in quotations, remaining within the current support level at 110.86 and the resistance level around 111.65.
The moving averages with a period of 21 and 55 days have slowed down, but they continue to move upwards, reducing the discrepancy, which allows us to expect the development of an upward trend in this market in the short term. The four-hour chart has entered the area slightly above the exponential moving averages, which confirms the probability of an uptrend in this market in the short term.
The technical picture also demonstrates the transition of the initiative to buyers, as the MACD histogram has entered the area slightly above its central line, and the strength indicator of the current RSI movement remains above the 50 line, confirming the bullish trend in this market in the short term.
Thus, we intend to buy this trading instrument today.