USD/JPY: 1-hour
Who’s up for a countertrend trade? Here’s a potential bounce off the descending channel support on USD/JPY’s 1-hour forex chart. The pair might climb bacastic is moving out of the oversold area and indicating a pickup in buying pressure. A downside break could still be possible though and this could be a sign that the downtrend would get stronger. Make sure you review our lesson on How to Trade Breakouts if you’re thinking of taking that route!
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