USDJPY is still in the long-term downtrend channel.

USDJPY is still in the long-term downtrend channel.

As the US Dollar Index weakens, non-US currencies will continue to appreciate, and the Japanese Yen is no exception.

On the picture, the H4 of USDJPY is in a long-term downward channel. Even if the Bank of Japan continues to block the rise, it can hardly stop the weakness of the US dollar. The yen will continue to appreciate along with currencies such as the Euro, Pound, and Australian Dollar.

USDJPY USD/JPY operation is recommended to go short on rallies, or if activists break below the resistance can be sell stop.

Jan.22.2021
Reliability: 3-10 Market Days