FX.co ★ USD/JPY Intraday Technical analysis

The spot rates approaches the upper limit of its medium-term downtrend channel at 83.40 suggesting a decline in the short term. However a break of these levels would free up significant potential and begin an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance at 83.40 with a 1st objective at 84.00, then 84.20. A break of 83.20 would invalidate this scenario.