On the USD/JPY daily chart, the bears are making great efforts to push the quotes below support at 111.15-111.25. If they succeed, it will lead to the continuation of the downward movement towards 107.65 (Target 200% pattern AB = CD).
The bulls rekindle dreams of the restoration of the long-term uptrend. To fulfill their dreams, they need to test the diagonal support in the form of the upper boundary of the descending trading channel.
On the USD/JPY hourly chart, prices reached the convergence zone. There are the targets in the Shark and AB = CD pattern. There is a great chance for the rebound from the current levels.
Origin: FX BAZOOKA
