FX.co ★ USD/JPY: potential reversal

USD/JPY 145.02 Static Obstacle!

The USD/JPY pair is trading at 145.40 at the time of writing. It has dropped below the uptrend line signaling that the uptrend ended and that the sellers could drag the price down. Technically, when the rate drops below an uptrend line, the price action indicates a downside reversal.

In the short term, the instrument is trapped between 146.44 (upside obstacle) and 145.02 (downside obstacle).

USD/JPY Trading Conclusion!

Dropping below 145.02 indicates a larger drop and brings new selling opportunities.