During the Asian trading session on Wednesday, the USD/JPY currency pair is trading with an increase in quotations, remaining within the current support level at 111.90 and the resistance level around 113.75.
Moving averages with a period of 21 and 55 days accelerate and continue to move upwards, increasing the divergence, which foreshadows the 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 the continuing advantage of buyers, as the MACD histogram remains in the area above its central line, 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.