FX.co ★ USD/JPY Intraday Technical analysis

The spot rate is now testing the support level through its medium-term bullish channel at 83.40 and seems to initiate a rebound. However a breakout of this zone will result in an acceleration toward the lower limit of its channel to 82.80.

According to previous events, the market indicates a bullish opportunity on the levels of 83.40 with a 1st objective of 83.90, then 84.10. A breakthrough of 83.20 will invalidate this scenario.