USD/JPY Technical Analysis: Flirting with a short-term ascending trend-line support

   •  A fresh wave of global risk-aversion trade underpinned the Japanese Yen's safe-haven demand and prompted some aggressive selling around the major on Tuesday.

   •  The pair tumbled over 75-pips from the vicinity of 1-1/2 week tops and has now moved on the verge of decisively breaking below a short-term ascending trend-line support.

   •  Technical indicators on the 1-hourly chart have slipped into oversold territory, albeit continue to hold in the neutral zone on the daily chart and thus, warrant some caution.

   •  Hence, it would be prudent to wait for a sustained weakness below the mentioned support before traders start positioning for an extension of the intraday bearish trend.
 

USD/JPY 1-hourly chart