The USD/JPY pair turned to the downside in the short term as the Dollar Index was in a corrective phase while the Yen Futures rallied. Now, it was located at 139.38 at the time of writing. The price crashed and reached 137.66 after the US data release. The Empire State Manufacturing Index came in better than expected, while PPI and Core PPI reported worse than expected data. 

 

Technically, it’s trapped between 140.79 and 138.45 levels. A valid breakout from this pattern could bring us new opportunities. Invalidating its breakdown could announce an upside breakout from this pattern. 

USDJPY


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