USD/JPY is moving towards the support line of a Channel Up 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 107.2300 within the next 5 hours.
Important support line being approached by USD/JPY. This price has been tested numerous time in the last 16 hours
