Technical Analysis for USDJPY - H1 Timeframe - December 29, 2021

- USDJPY is above MA & above Pivot Point. RSI is above 50 level. Up Trend is observed.
- Price is moving in upward channel (Major Trend Channel). Consolidation at top is also observed.
- Minor Trend Channel is a downward channel. Price is placed at the top of Channel. For Buying, wait for it to break R1 – 114.912.
- Alternative Scenario –Breaking downward below pivot point 114.691 may take it further down to check supports.
- Watch out levels for intraday trading.