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USDJPY: Maintaining Upside Channel Despite Signs of Recovery

U.S. Dollar / Japanese Yen (OANDA:USDJPY)  
Stephen_Anders  
OANDA:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators USDJPY resistence support buy SELL Forex
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trendanalysis chartpattern indicator usdjpy resistence support buy sell forex
The Yen has risen by over 3% following Japan's intervention to boost the currency and the Fed's less hawkish stance. The US Dollar index slipped below 105.00 with the NFP print being softer than expected.

The USD/JPY currency pair still has the potential for downside movement. However, there are signs of recovery in the pair. It is expected to test the 0.5-0.618 Fibonacci retracement level.

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