? USD/JPY Uptrend Channel Challenges 113 Resistance ?

2 min read

Hi traders,

The USD/JPY keeps moving higher within the uptrend channel after posting a new higher high in yesterday’s trading. How far can the UJ move?

USD/JPY

4 hour


USD/JPY uptrend could be aiming for the Fibonacci targets around 113.30-80.

1 hour


The USD/JPY bounce at the support trend line (green) of the uptrend channel and is now challenging the previous top. A break above that could see price move higher towards the Fibonacci targets. This could be part of a potential wave 3 (orange) pattern.

Good trading,
Chris Svorcik
Elite CurrenSea

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