FX.co ★ USD/JPY Intraday Technical analysis

The spot rate is currently testing the lower limit of its medium term bearish channel in 78.40 suggesting a rebound. However a break of these levels would initiate a bearish trend more violent.

According to previous events, the market indicates a bullish opportunity on the levels of 78.40 with a 1st objective of 79.10, then 79.40. A break in 78.20 would invalidate this scenario.