As i noted yesterday, the trendline in USD/JPY was not the strongest in the world given that the line had only been touched twice and hadn’t been touched in three months. Today’s price action makes the line a bit more valid as we have stalled in the rough area where the line comes in today. A close around present levels of 85.80 would give the trendline further oomph.
USD/JPY bulls would like to see a close above the 86.00 level this week to give the trend new life.
