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DAILY FOREX UPDATE: USD/JPY

By: Dima Chernovolov

USD/JPY continues to rise inside the 30-minute Up Channel chart pattern which was previously identified by Autochartist. Autochartist rates the quality of this Up Channel at the 4-bar level – which is the result of the slow Initial Trend (one bar), medium Uniformity (5 bars) and higher Clarity (6 bars). USD/JPY expected to rise further inside this Up Channel – in line with the recent breakout of the key resistance level shown below.

13062018dailyfximage1