FX.co ★ USD/JPY Intraday Technical analysis

The spot rate is currently testing the intermediate resistance of its medium term bearish channel in 77.20 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 77.80.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 77.20 with a 1st objective of 77.80, then 78.00. A break in 77.00 would invalidate this scenario.