FX.co ★ USD/JPY: more gains confirmed

USD/JPY Upside Breakout!

The USD/JPY pair has managed to jump above the downtrend line and above 114.16 signaling strong buyers and potential upside continuation. As you already know from my analysis, USD/JPY could develop an upwards movement if it breakout above the immediate obstacles, above the downtrend line, and above the 114.16 former high.

Only dropping and stabilizing below 112.76 would have signaled a downwards movement. Technically, the next upside obstacle, potential target, is seen at the 114.63 historical high. Jumping and staying above it may announce potential upside continuation.

USD/JPY Trading Conclusion!

USD/JPY activated further growth after stabilizing above 114.16. It could still increase as long as it stays above this level. After today's strong growth, we cannot exclude a sideways movement or a minor decline. A minor decline could help te buyers to catch a new upside momentum. 115.45 stands as a major upside target, the USD/JPY could climb towards this obstacle if it ignores the 114.63 obstacle.