FX.co ★ USD/JPY Intraday Technical analysis

The spot rate comes back to test the lower limit of its medium-term bullish channel at 83.50 suggesting a rebound in the short term. However a breakthrough in this area will lead to a violent downward acceleration and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 83.50 with a 1st objective of 84.00, then 84.40. A breakthrough in 83.30 will invalidate this scenario.