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USDJPY : Trend Seems Bullish

US dollar today got some strength against Japanese Yen from better than expected initial jobless claims report.

On the 4 hour chart the pair is currently following an upward sloping channel trend and found support from the rising support trend line of the channel. As the pair have crossed the 50 day SMA the trend seems bullish for the short term as it is still below the 100 day and 200 day SMA. 

If looking at the hourly chart, the pair have crossed all 50 day,100 day and 200 day SMA giving a bullish outlook to the pair. The pair will find support from the support trend line and continue to rise towards the resistance trend line.