FX.co ★ USD/JPY Intraday Technical analysis

The spot rate is currently testing the lower limit of its medium term bearish channel in 77.80 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 77.80 with a 1st objective of 78.50, then 78.70. A break in 77.60 would invalidate this scenario.