Greetings.
Let’s take a look at the USD/JPY.
It looks like the pair has started to channel from as early as August. The pair is trying to push down but it looks like the 76.00 level is a strong support level.
The downward movement seems to be potentially fizzing out so if we can see 75.00 or 76.00 hold as strong support, we may see a strong movement up after the new year. However, be sure to apply multi-time frame analysis and don’t be quick to label a breakout up as a sign the upward movement has begun.
Good luck with trading and be sure to use your money management.
