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USD/JPY: Ascending Channel

USD/JPY, 1 hour    SHORT Oct 17
It looks like USD/JPY completes an ascending channel and the price is about to break out now. An ascending channel can be thought of as a compelling price indicator that is used to identify a trend change to the downside in case if price collapses through the support line. It is likely that a bearish push down towards the 149.4 level will happen on a breach of 149.52.
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