Technical analysis - USD / JPY

The price recovered after yesterday's decline and failed to break the confluence zone at 108.4, creating an uptrend, but the newly formed downward channel is still maintained, the previous peak has not been broken, so the signal is in conflict .


Many unfavorable factors have caused CAD to weaken recently. The pair had a solid rally yesterday and is about to approach the resistance zone at 1.335. The short-term reversal you should prepare to jump into this area. If you have a long position should consider TP, and adjustments can come at any time.

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