USD/JPY Strong Buyers!
The USD/JPY pair resumed its growth as expected after passing above the 135.07 former high which represented an upside obstacle. It's trading at 136.34 at the time of writing. You knew from my previous analysis that the currency pair should extend its growth as long as it stays above the uptrend line.
The uptrend line represented a downside obstacle. So, only dropping and stabilizing below it may announce a downside movement and invalidate an upside continuation. Still, we cannot talk about this scenario right now as the price is located far above the uptrend line.
USD/JPY Trading Conclusion!
The aggressive jump above the 135.07 former high (upside obstacle) confirmed strong buyers and an upside continuation. This was seen as a buying opportunity. The next major upside target is represented by 138.13.
