The USD/JPY pair increased a little today only because the US reported positive economic data. The Non-Farm Employment Change and Average Hourly Earnings came in better than expected.
You knew from my previous analyses that the price could develop a larger drop if it drops below 137.65. Technically, today's low of 133.75 represents a downside obstacle. On the other hand, the minor downtrend line represents an upside obstacle.
USD/JPY Trading Conclusion!Staying below the downtrend line and dropping below 133.75 activates more declines. This helps the traders to sell this pair again.