USD/JPY 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A jump to more than a five-year high of 105.47 put a heavy selling pressure on USD/JPY thus pushing the pair towards several month lows. However, the downswing was not long-lasting as after a dive to almost a three-month low of 100.75, the U.S. Dollar got an impetus to rally against its Asian peer; for the last 90 hours the climb has been developing in the bullish corridor and the pair may continue vacillating between the channel trend-lines given bullishness in the market-more than 68% of traders bet on appreciation of the pair.
© Dukascopy Bank SA
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