USD/JPY Trend
Bank of Japan has intervened the USD/JPY trend, but it has not been enough to reverse the downward trend on the bullish sentiments. However, we cannot blame the bears as well for affecting the current market of USD/JPY as well. The bullishness is curbed as of now and thus in this new light you can very well see that the yen still has the strength to come up against the dollar but it seems it fears the intervention by BOJ as the BOJ can push USD/JPY as before to 86.00.
The selling pressure is currently at 86.00 but short sellers would like to make the trend bearish as long as the trend does not surpass the 86.00 mark. On the intraday double top, you can closely monitor the trend on a 240-minute chart.
The parity between USD and JPY continues in the bearish trend and has only made a return at 84.50. It seems the bearish movement will certainly go on a long wya before the trend reverses back.