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USDJPY stays within a upward price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 28, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY stays within a upward price channel on 4-hour chart, and remains in uptrend from 97.63. Support is located at the lower line of the channel, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.0350 area. On the downside, a clear break below the channel support will indicate that consolidation of the longer term uptrend from 96.94 is underway, then pullback to 100.50 area could be seen.

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