Technical analysis:
USD/JPY has been trading upside in the background but I see that there is exhaustion pattern and potential for the further drop.
Due to overbought condition and tight upside channel pattern, I see potential for the downside movement towards lower references.
Downside objectives are set at the price of 133.35, 132.70 and 132.25
MACD oscillator is showing bearish divergence, which is good sign for the further downside movement.
Resistance is set at the price of 134.21
