FX.co ★ USD/JPY Intraday Technical analysis

The spot rate approached the resistance level through its medium-term downtrend channel to 83.80. A breakthrough of this zone will allow the pair to reach the upper limit of its channel at 84.20.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance level at 83.80 with a 1st objective of 84.20, then 84.50. A breakout in 83.60 would invalidate this scenario.