During the Asian trading session on Thursday, the USD/JPY currency pair is trading with an increase in quotations, remaining within the current support level at 114.29 and the resistance level around 115.24.
Moving averages with a period of 21 and 55 days continue to move up and increase the discrepancy. The four-hour chart progresses noticeably above the exponential moving averages, demonstrating the continuation of bullish potential in this market in the short term.
The technical picture also demonstrates the advantage of buyers, since the MACD histogram remains in the area above its central line, and the strength indicator of the current RSI movement has consolidated above the 70 line, confirming the bullish potential in this market in the short term and the overbought trading instrument.
Thus, we intend to buy this trading instrument today.