The volatility of the oil price these days questions the previously taken uptrend. Or does it not?
USD/JPY has been trying to break above the trendline
Information is not investment advice
On the daily chart of USD/JPY, the pair has been trading near the trendline that limits the further rise. The pair needs to close above 108.045. After that, we can anticipate a further rise to 108.555 (previous consolidation zone). The break of the downtrend will be confirmed if only the pair sticks above 108.80. The next resistance is 109.26. Before that, risks of the fall exist.
If the pair is not able to break above the trendline, the fall to 107.15 is anticipated.
AUD/JPY finds itself at the crossroads of several trends - we will use various time frames to foresee the possible scenarios.
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