USD/JPY is heading towards the resistance line of a Channel Up. If this movement continues, we expect the price of USD/JPY to test 108.9640 within the next 22 hours. But don’t be so quick to trade, it has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.
Did you know that our social media feeds are updated only 3x per day, and don’t look at short term movements?
If you open a live account with a broker that support Autochartist, you’ll get:Analysis as low as 15 minute data intervals Short term forecasts Risk and volatility information