FX.co ★ USD/JPY Intraday Technical analysis

The spot rate is currently testing the intermediate resistance of its medium-term bullish channel at 83.10 and seems to initiate a decline. However a break of these levels would reach the upper limit of its channel at 85.20.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 83.10 with a 1st objective of 83.80, then 84.10. A break in 82.90 would invalidate this scenario.