FX.co ★ USD/JPY Intraday Technical analysis

The spot rate is currently testing the intermediate support of its medium term bearish channel in 80.05 suggesting a rebound. However a break of these levels would entail a return to the lower limit of the channel to 79.50.

According to previous events, the market indicates a bullish opportunity on the levels of 80.05 with a 1st objective of 80.60, then 80.80. A break in 79.80 would invalidate this scenario.