USDJPY finished day above downtrend line on Friday. In long term this weekly candle may be very important and it can be seen as a start of trend reversal. However, in a short term the price returned below downtrend line and it happened before noon.

Key level is at 103.60. At that area resistance coincides with downtrend line. If USDJPY moves above that level, it will be very important for further trend direction. Currently the price returned below downtrend line and the price is leading to 102.40 level.

USDJPY_H4



USDJPY_D1

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Author of worldtrader.pl blog and big supporter of technical analysis. Active medium-term trader. In his analysis uses classical charts, price action as well as harmonic patterns and Elliott Waves. In trading he always tries to take into account two points of market's view, in accordance with the principle that each transaction may be attractive both for the demand and supply traders.