USDJPY approaching an important supply zone
Hey Traders, USDJPY is trading in a descending channel and extending pullbacks seems to be approaching the channel resistance around 131.7 Supply and demand zone. if the rejection is confirmed i would set the channel support as a target around 127.500 zone. Fundamentally JPY is considered a safe haven with current banking sector crisis and BoJ monetary policy changes expectations and the last FOMC have showed dovish sentiments from the fed since he didn't mentioned any further rate hikes in his speech.
Trade safe, Joe.
Trade safe, Joe.
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