FX.co ★ USD/JPY: further growth still possible

USD/JPY Uptrend Intact!

The USD/JPY pair dropped a little after registering strong growth. Yesterday's low of 127.84 and the uptrend line represent downside obstacles. As long as it stays above these levels, the price could resume its growth, the uptrend.

After its strong growth, a minor retreat was somehow expected. A temporary retreat could help the buyers to catch a new upwards movement. Only dropping and stabilizing below the uptrend line could invalidate an upside continuation and could announce a new downside movement.

USD/JPY Trading Conclusion!

In the short term, it moves sideways signaling that it tries to attract more buyers before resuming its growth. Testing and retesting the 127.84 and the uptrend line could bring new buying opportunities.