The breakout of USD/JPY through the 106.1830 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, we expect the price of USD/JPY to test 105.2703 within the next 2 days. One should always be cautious before placing a trade, wait for confirmation of the breakout before putting any money down.
After testing 106.1830 numerous times, USD/JPY has finally broken through. Can we expect a bearish trend to follow?
