The USD/JPY currency pair has revealed a medium-term ascending channel. During today’s morning, the pair reversed north from the lower channel line.
From a theoretical perspective, it is likely that some upside potential could prevail in the market, as the exchange rate should target the upper channel line.
In the meantime, note that the currency pair would have to exceed the weekly S1 at 105.85. If the given level holds, it is likely that the pair could reverse south and decline along the lower channel line
