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USDJPY Stays In An Upward Price Channel

USDJPY Stays In An Upward Price Channel

USD/JPY stays in an upward price channel on the 4-hour chart, and remains in the uptrend from 95.8. The price action from 100.22 is treated as a consolidation of the uptrend. Initial support is at 98.75, and as long as this level holds the uptrend could be expected to resume, and one more rise to the 101.50 area is still possible. Key support is at the lower line of the channel, only a clear break below the channel support will indicate that the upward movement is complete, then the following downward movement could bring the price to the 95.00 zone.

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