FX.co ★ USD/JPY Intraday Technical analysis

The spot rate is currently testing the intermediate support of its medium-term bearish channel at 84.60 and seems to initiate a rebound. However a break of these levels would entail a return to the lower limit of its channel to 84.50.

According to previous events, the market indicates a bullish opportunity on the levels of 84.60 with a 1st objective of 85.30, then 85.50. A break in 84.40 would invalidate this scenario.