USDJPY at Mid-Range – 107.50

USDJPY is the only major that hasn’t witnessed any large move in the past couple of weeks, the pair has slowly moved lower but inside a 350-400 points channel. Although the bias is bearish the momentum has yet to build up and we are approaching a series of key support levels, first just above the 107.00 area followed by the ascending trendline connecting the 16th of July and September 5th swing lows; both support zone should be prety hard to break through. USDJPY is the only major that hasn’t witnessed any large move in the past couple of weeks, the pair has slowly moved lower but inside a 350-400 points channel. Although the bias is bearish the momentum has yet to build up and we are approaching a series of key support levels, first just above the 107.00 area followed by the ascending trendline connecting the 16th of July and September 5th swing lows. The closer we get to the lower support trendline the bigger the chances the pair will jump higher(from a technical point of view).

[NP][/NP]