USDJPY: 1D Channel Up. Update on our long position.

USDJPY is trading within a Channel Up on the 1D chart since the August bottom (RSI = 64.864, MACD = 0.280, ADX = 28.402, Highs/Lows = 0.7486) and having broken both the MA50 and MA200 on the current bullish leg, is almost on the Higher High trend line.

So far this is aligned perfectly with our August buy call at the bottom:

However being on the Higher High zone, we may see a short term pull back to either the 1D MA50 or MA200 for a new Higher Low, before completing the uptrend within our 111.000 - 112.000 Target Zone.





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