FX.co ★ USD/JPY Intraday Technical analysis

The spot rate is currently testing the upper limit of its medium-term bearish channel at 83.00 suggesting a decline in the short term. However a break of these levels would free up significant potential and begin a rising trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 83.00 with a 1st objective of 83.80, then 84.00. A break in 82.80 would invalidate this scenario.