Sasha Singh
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USDJPY : Gain Seems Limited, Testing Resistance From Resistance Trend Line of Channel

(USDJPY : 4 Hour Chart)

US Dollar is strengthening higher today after the ADP Non-Farm employment change data however the gains seems limited as the 100 day SMA went down below the 200 day SMA. The pair is trading within a downward sloping channel and rose within this channel. Currently the pair is testing the resistance at 101.73 and from the resistance trend line of the channel.The pair might decline from this resistance trend line however if it continues to rise the next resistance level it will find is at 101.80 or 101.95. If the pair move above the 101.80 this might open bullish outlook on the pair.