{video}USDJPY has been trading within an upward sloping channel since mid-March, crossing above crucial technical levels and posting consecutive higher highs. However, the pair seems to be consolidating in the near term after failing to breach the November 2022 high of 142.24. The momentum indicators currently suggest that the bullish forces are in control. Specifically, the RSI has flatlined just shy of the 70-overbought mark, while the MACD is holding above its red signal line in the positive territory. If bullish pressures persist, the price needs to initially claim the recent rejection region of 142.24. Piercing ... (full story)