The USD/JPY pair is trading sideways in the short term between 129.74 and 131.73 levels. It has passed above the downtrend line which represents an upside obstacle but it has failed to stay there signaling strong sellers.
The 131.73 former high represents a static upside obstacle (resistance), while 130.55 and 129.74 represent downside obstacles.
USD/JPY Trading Conclusion!Jumping and stabilizing above the downtrend line and passing beyond 131.73 activates further growth and an upside reversal. This is seen as a buying opportunity.