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USDJPY stays in a upward price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 17, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY stays in a upward price channel on 4-hour chart, and remains in uptrend from 95.81, the fall from 100.60 could be treated as consolidation of the uptrend. As long as the channel support holds, the uptrend could be expected to resume, and one more rise to 101.50 area is still possible after consolidation. On the downside, a clear break below the channel support will indicate that the uptrend from 95.81 had completed at 100.60 already, then the following downward movement could bring price back to 95.00 zone.

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