USD/JPY 4hr ascending channel

10 Sep 2019

USD/JPY very bullish, 4hr resistance has broken clean and then retested on the lower timeframes. Looking now at a possible break and retest of this ascending channel as it aligns perfectly with my next highlighted zone around 107.635, if we get a clear and clean break with a bullish candle closure then we can expect a retest of the ascending trend line and zone for a push even higher on UJ. At the same time though we could just see price retesting this trend line once again like it has 4 times already before pulling back to the now support level of 107.100 before pushing even higher into the ascending channel. Monitoring price action on lower timeframes before identifying the next big move for UJ. Bullish bias still remains overall for this pair as it has been the past few trading days.