FX.co ★ USD/JPY: more declines to be activated

USD/JPY 145.19 Downside Obstacle!

The USD/JPY pair extended its downside movement and now is almost to reach the former low of 145.19 which represents a downside obstacle. You knew from my analyses that the price could drop deeper after failing below the uptrend line and below 146.83.

Now, it's trapped between 145.19 and 148.79 levels. It remains to see how it reacts around 145.19. Staying above it may signal a new upside movement.

USD/JPY Trading Conclusion!

Dropping and stabilizing below 145.19 downside obstacle confirm more declines. This scenario helps traders to sell this pair.