During the Asian trading session on Monday, the USD/JPY currency pair is trading with an increase in quotations, remaining within the current support level at 111.30 and the resistance level around 112.98.
Moving averages with a period of 21 and 55 days are accelerating and continuing to move up, maintaining a decent divergence, which allows us to hope for further development of an upward trend in this market in the short term. The four-hour chart is progressing well above the exponential moving averages, which confirms the further development of the uptrend in this market in the short term.
The technical picture also demonstrates a confident advantage of buyers, since the MACD histogram has entered the area confidently above its central line and is growing, and the strength indicator of the current RSI movement remains above the 70 line, confirming a strong bullish trend in this market in the short term.
Thus, we intend to buy this trading instrument today.