By: Dale Todd
USD/JPY traded down near 3rd channel extension support (purple) at 89.66, but has rebounded.
Resistance should be at 90.07 and 90.23. If those levels are breached, resistance at the 3rd channel bottom is at 90.55. Downside targets on a breakout below 89.66 are at 88.46 and 87.60.
For the LT picture, USD/JPY remains in a down-cycle, and it would take a close above 91.27 to break that down trend.
USD/JPY Tests Support
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