USD/JPY 132.93 As Key Obstacle!
The USD/JPY pair is trading at 132.44 at the time of writing. You knew from my previous analysis that the price could approach and reach new highs if the instrument jumps above 131.73. It was almost to reach the 132.93 former high which represents an upside obstacle.
Technically, after its strong growth, a retreat is natural. Still, the upside scenario remains intact as long as it stays above 131.73.
USD/JPY Trading Conclusion!
USD/JPY could extend its upwards movement after passing and stabilizing above the 132.93 level. This scenario brings new buying opportunities.
