USD/JPY Demand Zone!
The USD/JPY pair dropped in the short term after its strong uptrend. A temporary drop was natural. Now, the price found demand in the 145.07 - 145.88 zone. These former highs (historical levels) represent downside obstacles. The price was located at 147.69 at the time of writing.
The USD/JPY pair is almost to reach the uptrend line which represents an upside obstacle (the downside obstacle turned into an upside obstacle).
USD/JPY Trading Conclusion!
Staying below the uptrend line and dropping below the 145.88 -145.07 zone activates a larger drop and brings new selling opportunities.
On the other hand, jumping and stabilizing above the uptrend line and above 149.47 former high may signal further growth.
