FX.co ★ USD/JPY Intraday Technical analysis

The spot rate is currently testing the lower limit of its medium-term bullish channel at 81.20 suggesting a rebound in the short term. However a break of these levels would release a large downside potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 81.20 with a 1st objective of 81.90, then 82.20. A break in 81.00 would invalidate this scenario.