USD/JPY
The US dollar/Japanese yen pair is continuing to move in a downwards trend since the beginning of July. In the last few days the pair has been signaling an opportunity for action after it has reached the upper border of the range. From this point onwards the pair is expected to make a return back down, towards the lower border of the trench, or, alternatively, to breach the trench upwards.
Therefore it is possible to enter a sell deal even on the current price levels with exit goals around the support level of 81.40 and the support level of 80.20. On the other hand, a breach and daily close over the upper border of the range at 83.60 will signal of a positive momentum which is expected to push the pair all the way up to the resistance levels of 85.40 and 87.00 respectively.
