USDJPY Two Different Scenarios

We have a strong uptrend and price is in the ascending channel and after approaching to the resistance level and also the channel’s upper band, got rejected by them. MACD bars are in the negative phase. IF price dropped around 105.420 which is a demand level and there was any upside pressure, we can expect the price to rise again. On the other hand, be careful about the opposite breakout at the channel’s lower band. IF channel strongly broken out to the downside, we can expect the price to fall as the same width as the first channel. The entry levels, TP and SL in both scenarios have been marked. Good luck 🤞🏻 😊

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