FX.co ★ USD/JPY: exhausted buyers

USD/JPY Uptrend Line Violated!

The USD/JPY pair retreated a little after failing to stay above the 147.00 psychological level. Now, it continues to pressure the uptrend line which represents a downside obstacle. As long as it stays above the uptrend line, the price could resume its growth.

Technically, staying near the uptrend line may announce strong selling pressure and an imminent breakdown. In the short term, it's trapped between 145.62 and 146.44 levels. So, as long as it stays above 145.62, the USD/JPY pair could resume its growth despite a breakdown below the uptrend line.

USD/JPY Trading Conclusion!

Dropping below 145.62 activates a downside continuation. This may represent a selling opportunity.