The level 131.50 once again stopped sellers’ advance. 

Sellers continued to dominate and keep the pound under pressure. 

USD/JPY can never leave the upward channel. All sellers’ attempts to leave the channel faced buying rejection. 

The short term picture favors the downside. 

This week is going with a small amount of data available, as investor attention is mainly focused on Asia, where Trump continues his state trip.

The upward momentum lost legs in the 1.1600 region in the early Asian trades. 

On Wednesday, European markets continued to trade under light pressure amid partial profit-taking in the auto and technology sectors. US stock markets in contrast continued weak growth and updated historical highs amid increased demand for high-tech securities. 

Buyers made another attempt to regain the 64.50 resistance. However, the bullish spike faded immediately after touching the level. 

Gold extended its upside impulse and broke through 1280.