forexcycle
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USDJPY remains in uptrend from 108.13, the fall from 111.77 is likely consolidation of the uptrend. Near term support is at the bottom of the price channel on 4-hour chart. As long as the pair is in the channel, the uptrend could be expected to continue, and next target would be at 113.00 area. Only a clear break below the channel support will indicate that the uptrend had completed at 111.77 already, then the following pullback could bring price to 109.00 area.
