DislikedHi. This is what I see for USDJPY - Most JPY pairs seem to follow UJ lately. Also the AUDJPY is at top of new 4HR channel, but if you want look at longer-term, it could go further toward 90, but Im short.
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I like to have open positions for couple of hrs to days and close them all before the weekend, if it works of course, no long-term for me,
you are right about the channel, what I see on weekly chart is going out from it's usual Fibonacci fans after a couple of months, may be to next fan,however I'm a Robert Pretcher follower, Im still long term bearsih on stocks and USDJPY!!