AdamFx42
Long

UsdJpy breaks 125 - not coming down again

FX:USDJPY   U.S. Dollar/Japanese Yen
Usd/Jpy             has made its intentions clear, I believe

Breaking 125 after steep retracement indicates that traders believe the intended rate hike is coming in September

The pair is currently in a bullish channel , and is coming down to retest previous highs

I will see if lower channel support holds, or the pair will bounce
Then I will go long there - just below 125, with a SL below the lower channel support,
a matter of a mere 20 pips or so
The TP will be the next move towards the upper band of the channel, probably around 125.50
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