JohnnyPurtoy98
Long

USDJPY - channel inside a channel

FX:USDJPY   U.S. Dollar / Japanese Yen
A channel has formed inside a much bigger channel, this smaller channel has slightly broken outside the bigger channel, I do not believe this is yet a successful breakout. The RSI is currently at an overbought level as the price has just broken out the channel and the price is touching the resistance level of the smaller channel. I think the price would move down, if the price moves down there is a chance it could bounce off the larger channel and make its way further up making more gains. I will update this pair over the coming days.

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