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 107.2320 within the next 2 days. 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.
