USD/JPY is quickly approaching the resistance line of a Channel Up. We expect either a breakout through this line or a rebound.

Possible breach of resistance level by USD/JPY
Emerging Channel Up pattern in its final wave was identified on the USD/JPY 4 hour chart. After a strong bullish run, we find USD/JPY heading towards the upper triangle line with a possible resistance at 151.7000. If the resistance shows to hold, the Channel Up pattern suggests a rebound back towards current levels.

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