Weekly Technical Analysis of THE USD-JPY

The pair is now trading outside the falling channel on the 4 hour chart, after it succeeded in breaking the channel with a strong positive momentum, through which it managed to break and close above the channel on H4. After this break, the outlook is completely positive for the pair targeting the highest levels 109.20 - 109.50 as recent high targets. We expect the price to resume again to test the broken downtrend and gather the price for a new positive momentum, and then rise to the top targets during the week.

We can work on higher targets as a good selling territory for the pair. 109.20 - 109.50 selling area this week for the pair

General trend: bullish after channel breakout while maintaining good bottom level on H4