Technical analysis:
USD/JPY has been trading downside and there is the breakout of narrow channel in the background. I see further downside movement.
Trading recommendation:
Due to the strong downside momentum and breakout , watch for further drop towards the next major level.
Watch for potential selling opportunities on the rallies with the objective at 131.00
Stochastic is showing overbought condition and potential for the downside rotation.
Key resistance is set at the price of 135.60
