USD/JPY Technical Analysis – Descending Channel
USD/JPY rebounded from the descending channel’s support at $147 but still looks bearish. The strong resistance remains at $150.50; a break above this level could push the pair toward $152. A break below $147 would indicate further downside in USD/JPY. The rebound in USD/JPY is linked to support in the US Dollar Index at 103.50. A break below 103.50 in the US Dollar Index could lower the USD/JPY.
