USD/JPY has managed once again to jump above the downtrend line. This time, the rate has retested the broken dynamic resistance and now is almost to pass above the former high which will indicate further growth.
The pair could jump way higher in the upcoming weeks if the US Dollar Index resumes its current growth. The aggressive growth registered on November 9 signaled that the downside movement is over and that USD/JPY could develop a swing higher.
USD/JPY Trading Conclusion
So, the breakout above the downtrend was confirmed by the most recent retest. So, stabilizing above the 105.50 level suggests buying with a potential upside target at the 107.00 psychological level.
