USD/JPY Uptrend Intact
USD/JPY dropped a little but it could still resume its uptrend as long as it stays above the uptrend line. Technically, the uptrend line represents a downside obstacle. The 134.52 former high stands as an upside obstacle (resistance), while the 133.49 former low represents a static downside obstacle (support).
The current retreat could be only a temporary one before resuming its growth. The rate could test and retest the near-term downside obstacles before jumping higher.
USD/JPY Trading Conclusion
As long as it stays above 133.49 and above the uptrend line, USD/JPY could come back higher at least towards the 134.52 former high. An upside continuation could be activated if the price passes above 134.52.
Relevance up to 07:00 2022-12-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
