The descending channel pattern is often followed by higher prices, but only after an upside penetration of the upper trend line. The USDJPY has continued channeling downward until it was able to break either the upper trend line. An upside break is bullish.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.