USD/JPY is heading towards the resistance line of a Channel Up. If this movement continues, we expect the price of USD/JPY to test 106.7510 within the next 12 hours. But don’t be so quick to trade, it has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.
USD/JPY is quickly approaching the resistance line of a Channel Up. We expect either a breakout through this line or a rebound.
