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USDJPY remains inside bullish channel

USDJPY after reaching our 106 target has made a reversal to 105.24. Despite this pull back price remains inside the bullish channel that continues to make higher highs and higher lows since January.

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USDJPY remains inside bullish channel

Green lines - bullish channel

Channel support and lower boundary is found at 105. This could be used as stop for any potential long positions. Breaking below this level will increase chances of a break below the recent important low at 104.40. As long as price respects the boundaries of the channel, we should expect more upside to come.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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