USDJPY bearish signal with target on huge Stop Loss cluster

USDJPY bearish signal with target on huge Stop Loss cluster
Forecast:
Outlook
0
Period
0
Status
0
Entry
0.00000
Target
(0) 0.00000
Stop Loss
(0) 0.00000

Japanese Yen bulls are having a better time of it against the US Dollar this week and, indeed, have forced USD/JPY down to what may be a critical juncture.

On its daily chart the pair is testing the downside of channel support in place since the current climb started back on September 7. That support comes in within a whisker of current levels (as of 0100 GMT Wednesday), at 113.76. US Dollar bulls are going to have to work hard to secure a daily close above this level and keep the channel intact.