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USD/JPY: Descending Channel

USD/JPY, 4 hours    LONG Aug 9
As we can see USD/JPY develops a descending channel, USD/JPY wants a move as proof of a breakout. A descending channel is a useful price action signal that is used to spot a next move up in case if price breaks through the resistance. A bullish run towards the 144 zone is a possibility on a breach of 143.4 amid USD/JPY reclaims part of the ground lost.
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