USD/JPY is trading at 108.92 level and it continues to move sideways after dropping below the uptrend line. As you already know from my analysis, the bias was bullish as long as USD/JPY stays above the uptrend line.
It has retested the broken uptrend line and now it seems undecided. The pressure is high after dropping below the uptrend line. Dropping below 108.53 former low, the support level, could really signal a strong decline towards 108.00 and 107.50 levels.
Trading Conclusion!
Sell USD/JPY if the rate drops below 108.50 and use the 108.00 psychological level as the first downside target!
