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USDJPY Giving Bullish Signal !!

USDJPY : 4 Hour Chart

USDPY broke out from the rising trend channel trend signaling a bullish trend on the 4 hour chart. Currently it is testing the resistance at 107.97 and if it continues to rise the next resistance it may find at 108.69. The 50 day SMA also seems like heading upward now signaling a change in the trend. The rising support trend line below the channel will continue to support the pair therefore it should continue to rise.

USDJPY : Daily Chart

On the daily chart we can see that the pair was following an ascending triangle trend and has confirmed the bullish breakout. The rising support trend line will continue to provide support to the pair and therefore a breakout from the next resistance at 108.31 is also expected which will also open the doors for the 109.44 level.