The USD/JPY pair climbed as much as 143.42 today, registering a new higher high. Technically, after its amazing growth, a retreat is natural. The rate could come back to test and retest the near-term downside obstacles before jumping higher.
Technically, the uptrend line and the former high of 142.27 represent downside obstacles, while 143.42 is seen as an upside obstacle.
USD/JPY Trading Conclusion!Testing and retesting the uptrend line should bring a new upwards movement. Jumping and stabilizing above 143.42 activates an upside continuation and is seen as a buying opportunity.