USD/JPY is moving towards the resistance line of a Channel Down which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If USD/JPY continues in its current trajectory, we can expect it to reach 106.3840 within the next 23 hours.
Important resistance line being approached by USD/JPY. This price has been tested numerous time in the last 6 days
