USDJPY One last rally before a correction.

It's been almost 2 months since we looked into the USDJPY pair (see chart below) and our buy position right at the bottom of the Channel Up that easily hit its 144.500 target:


The pattern is still holding and the price appears to be starting the final upward leg before it tests the top (Higher Highs trend-line) of the pattern. As a result, as long as the 1D MA50 is holding, we are bullish targeting 150.000 (top of Channel Up). If the 1D MA50 breaks, we will short-term sell towards the 1D MA100 (green trend-line). If the price closes below the 1D MA100, we will consider it a pattern bearish break-out and sell targeting the 1D MA200 (orange trend-line) and Support 3 at 138.100.

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