FX.co ★ USD/JPY further growth needs confirmation

USD/JPY Upside Signaled

The USD/JPY pair registered strong growth in the short term. It has climbed to as much as 137.56 where it has found strong supply. Now, it has dropped a little which is natural after the strong upward movement.

It could test and retest the broken downtrend line and the uptrend line which represent downside obstacles before trying to resume its growth.

USD/JPY Outlook

Jumping and stabilizing above 137.56 could announce further growth and could bring new buying opportunities.