declines in descending channel
with current range 120.25-120.75 from 26 October. The pair could rebound from 120.25/30 support zone
, I expect USDJPY rising to upper channel line 120.70/75.
Target is confirmed by ascending trendline
on hourly chart.
Stop-loss is set below intraday low 120.15. Breakout from channel to the downside opens way to 119.50 support.