FX.co ★ USD/JPY: downside scenario taking shape

USD/JPY Challenges 146.83 Downside Obstacle!

The USD/JPY pair crashed after failing to jump above the downtrend line. You knew from my previous analysis that the price is trapped between the downtrend and uptrend lines and between 146.83 and 148.79 levels.

I've told you that escaping from these chart patterns could bring us a clear direction and new trading opportunities.

USD/JPY Trading Conclusion!

Dropping and stabilizing below 146.83 downside obstacle may signal further drop. This could be seen as a selling opportunity.