USD/JPY: technical analysis
The price tested breached downtrend (blue) line, which indicated its strength as a support and initiated reversal to growth. Having reached 79.30/20 line, trading is currently carried out at 78.90/80 level. Earlier forecasts, predicting correction to growth, mentioned in the previous comments, look to be confirming. Indicators suggest further ascension, which gives reasons to anticipate growth. Strong resistance levels on the way up will be found at 79.40/50 and 79.80 levels. Should the price breach these barriers, trading will rise towards 80.60, and then to 81.20/30 level.
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