JonathanWong
Short

USDJPY Daily rising channel

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY             trading within range. Consolidation before further upside. Downside should be capped by rising trendline at aroun 117. xx             . If trend line is broken, 200 day moving average will be the next level of support. Longer term should see prices going higher as Fed begins to normalize rates. Till then, the channel is likely to hold so look for opportunity to enter long near the lower bound of the channel.
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