FX.co ★ USD/JPY: upside continuation

USD/JPY Strong Buyers!

The currency pair extended its growth and now is trading at 140.35 at the time of writing. After passing above the downtrend line, the rate was expected to develop an upside reversal. It has increased within an up channel and now it has jumped above the former high of 139.93 and above the channel's upside line confirming strong buyers and an upside continuation.

139.93 and the upside line represented upside obstacles. Ignoring these levels announces further growth.

USD/JPY Trading Conclusion!

Breaking and jumping above 139.93 and above the upside line was seen as a buying opportunity as the price action signaled more gains ahead.