USDJPY Daily Analysis – July 25, 2023

USDJPY has been staying within a rising price channel on the 4-hour chart, suggesting that the pair remains in an upside move from 137.23. As long as the price stays within the channel, the upside move could be expected to continue, with the next target being 142.50, followed by the previous high of 145.06.

On the other hand, if the price were to break down below the channel support, it would indicate that the upside move has already completed at 141.94 and another fall towards the previous low of 137.23 could be seen.

Overall, while USDJPY remains in an uptrend within the rising price channel, there is also the possibility of a breakdown below the channel support that could see the price fall.