FX.co ★ USD/JPY: 134.69 as downside obstacle

USD/JPY Sellers In Charge!

The USD/JPY pair dropped below the uptrend line and under 135.78 signaling that the upside movement ended. These represented downside obstacles, so more declines are in cards.

The 135.78 turned into an upside obstacle. As long as it stays below it, the USD/JPY pair could approach and reach new lows. Now, the 134.69 former low stands as a downside obstacle.

USD/JPY Outlook!

Dropping below 134.69 may announce a deeper drop and helps the traders to sell this pair.