Daily Forex Update: USD/JPY

The uptrend on the intraday USD/JPY reflected the Yen being sold or borrowed against the U.S. Dollar. However, the steady climb in this pair is about to be tested by what could be a double top across 86.20. The area between 86.20 and 86.50 has been an intraday ceiling throughout the month of August. If selling pressure builds once again, look for the USD/JPY to stall and possibly reverse.