USDJPY has been travelling in a (BLUE) descending channel and has also been following and testing a (BLACK) descending trend line multiple times inside of the channel. Price on the daily chart made a sharp move upwards yesterday breaking above the previous resistance zone (now support) and also the black trend line. Depending on the closure of today's candle we will be seeing a move upwards to the top of the channel.
Price has also tested the 0.618 retracement zone on the downwards dip and shot upwards which suggests a change in trend
Our target is shown above at the next resistance zone which evidently lines up with the top of the channel perfectly.