The USDJPY is trading in a strong uptrend. The chart shows how the price tried to break this price channel with a bearish break, now a false break. Price is trading above the support of the price channel again.
The price is approaching the retest of the resistance at 135.5, the breakdown of which suggests further growth of the price to the 137.45 mark. The currency pair has a potential of 1200 pips – up to the strong level formed in June 1998.
I assume that the growth of the price can continue, there are several targets on the chart. The short-term target is resistance at 137.45. Medium-term target is resistance of 139.37.
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