The Yen is decreasing against the US dollar after a short term correction. The rate has found support at 120.40, we have there an important uptrend line. USD/JPY is moving inside of an ascending channel. The price is approaching the 124 resistance area and most likely will jump above this obstacle. Another resistance can be found at the previous high (125.84). The price has broken the short term descending trend line, so, we have a strong bullish momentum.


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