FX.co ★ USD/JPY Intraday Technical analysis

The spot rate is currently testing the upper limit of its short term bearish channel at 81.30 and seems to start 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 80.30 with a 1st objective of 81.00, then 81.30. A break in 80.00 would invalidate this scenario.