USDJPY is moving in a clear Ascending Channel (uptrend)

USDJPY is moving in an uptrend by forming higher highs and higher lows in the 4-hour timeframe chart.

Now, USDJPY is standing at a higher high zone similar to this USDCHF analysis.

In our previous week update, USDJPY is standing at the higher low zone, now it went up and standing at the higher high zone.

This shows that USDJPY remains strong in an uptrend.

Reason for USDJPY price rise

Inflation rate rising faster

Bank of Japan Governor KURODA Haruhiko stated that Japan’s economy will bring to a normal state in one or two years.

And Inflation’s readings remain to worry and achieving of 2% target is difficult in the current stage of lockdown.

USDJPY climbed higher after this news flashed.

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