USD/JPY, back under the trend line!
USD/JPY came out of the tight range yesterday. The pair try to push higher but it didn’t manage to brake 120.30/40, after wich has fall down under previous support at 119.90/120.00. You can see in this smaller H4 chart, how precise is movement around the trendline, inner and outer or support/resistance. The pair had retret back to 119.63 low for now, aiming MA200 & 100, under wich is waiting minor support at 119.20/30. If the pair fall bellow, up trend line is waiting, 118.30/50 is stronger support from March/April. But, if that level will be tested again, my view is that it will broken and the pair could fall below! I don’t like to analyse USD/JPY at small chart like this one is, because this pair usualy have a lot of turnovers in H4 chart. But, here it is, just to show you how this trend line works.