USDJPY: Bullish Channel

USDJPY, H2

USDJPY Navigates within an ascending channel and faces the 154.70 resistance level.

The 100-MA gives an additional layer of support, while the MFI leaves the oversold zone, giving a fuel for the buyers.

If the price breaks above the 154.70 resistance, it will rise to 156.50 level.
However, if USDJPY breaks below the trendline, the asset may fall to 152.30.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul

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