FX.co ★ USD/JPY Intraday Technical analysis

The spot rate is currently testing the upper limit of its medium-term bearish channel at 81.70 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 81.70 with a 1st objective of 82.20, then 82.40. A break in 81.50 would invalidate this scenario.