USDJPY stays in a falling price channel

By @ibtimes on

USDJPY stays in a falling price channel on 4-hour chart, and remains in downtrend from 85.51. Key resistance is located at 83.09, as long as this level holds, downtrend could be expected to continue, and next target would be at 81.50 area. However, a break above 83.09 will indicate that a cycle bottom has been formed, and the fall from 85.51 has completed at 82.18 already, then the following upward move could bring price back to 83.45 zone.

usdjpy


Join the Discussion