As expected in the previous analysis, price movements on the USD / JPY currency pair chart continued to rise throughout the week continuing the series of last week's bullish.
After successfully overcoming the resistance at the 104.800 price zone, the price continued to rise until it reached the 105.600 focus zone again at the end of the New York session.
However, price movements began to level in the zone during the Asian market session today (Friday).
The US dollar remained on display until the end of the week ahead of key data from the US NFP (US) employment report in the New York session.
The price trend remains bullish on the USD / JPY chart with price movements above the Moving Average 50 (MA50) support level over the 1 hour time frame.
The resistance level at 105.800 is seen as the closest pull for the price increase before the higher rise is expected to soar to around 106,500 which was a resistance in September last year.
However, if the price falls again, the support level of MA50 will be tested and the price will fall below that level which will give an early signal for a bearish trend.
The price decline is seen to return to the RBS zone (resistance become support) 104.800 before heading to the RBS zone around 104.400.
