USDJPY falling from the lower high and retesting the minor breakout level

USDJPY Descending channel Analysis

USDJPY is moving in a descending channel by forming lower highs and lower lows in the 4-hour time frame chart.

Third-time USDJPY hits the lower high of the descending channel and starts to fall down to retest the minor breakout level.

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After the confirmation of the new US president Joe Biden, USD becomes strong and this USDJPY hits the top level of the channel and starts to fall down now.

Let’s wait for the breakout of this channel range to get a clear view of USDJPY.

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