USD/JPY- Broken its upward channel- shows weakness
The USD/JPY has broken its upward channel on a 30 minute time frame. However, the price is finding its support near the 100 day moving average, but it is important to point out that the lower line of this upward channel could act as a resistance line. Moreover, as the price is trading below the 50 day (shown in green) and near the 100 day (shown in yellow) moving averages, this confirms that the bulls are losing their control.
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