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Despite several attempts to break local resistance levels, JPYUSD is still in a downward trend. The situation in the US does not show a significant improvement in economic terms, but the situation of this country is also not deteriorating, which is a good factor for a relatively slight strengthening of the dollar against certain currency pairs.
For several days we have been seeing the upward behavior of the USDJPY pair, which for over seven months was in a downward trend creating a falling wedge noticeable from the D1 time interval.
Currently, the trend may be broken after breaking the resistance from March 2018, which is marked with a line in the image. After breaking the rate above this level, we can expect a stronger rebound, as shown in the image below. As long as the price fluctuates on the local resistance, we can see that there is no clear signal of the direction yet, as the trend is still downward.
