Aurum Markets Blog Technical Analysis USDJPY – getting close to support of a Channel Down

USDJPY – getting close to support of a Channel Down

USDJPY – getting close to support of a Channel Down post thumbnail image

Emerging Channel Down detected on USDJPY – the pattern is an emerging one and has not yet broken through resistance, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 149.193 and it is expected to move to 146.6860.

Supported by Downward sloping Moving Average

Target: 146.686 Entry: 149.193 Stop: 150.302

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