USD/JPY Uptrend!
The USD/JPY pair is trading at 138.54 at the time of writing. It could resume its growth as long as it stays above the uptrend line. Technically, the uptrend line represents a downside obstacle. The 138.05 former low represents a downside obstacle as well.
On the other hand, the 138.73 former high represents an upside obstacle. In the short term, it's trapped between 138.05 and 138.73 levels. The sideways movement could represent an upside continuation pattern.
USD/JPY Trading Conclusion!
Dropping below 138.05 and under the uptrend line activates a downside movement. This is seen as a selling opportunity.
On the other hand, staying above the uptrend line and jumping above 138.73 activates further growth. This represents a buying signal.
