USD/JPY has broken through the resistance line of a Channel Down technical chart pattern. Because we have seen it retrace from this line in the past, one should wait for confirmation of the breakout before taking any action. It has touched this line twice in the last 2 days and suggests a possible target level to be around 114.1666 within the next 8 hours.
USD/JPY – breach of a trending resistance line that has been tested at least twice before.
