USDJPY stays in the channel lanes

Moving back higher after buyers lean on the lower trend line.

In an earlier post, I spoke to the channel trend lines that the USDJPY had developed. Well, trading remains confined by those trend lines.

The price moved down to test the lower extreme in the NY morning session, found buyers and bounced.

The extremes are now at 110.95 below (and moving lower) and at 111.37 above (and moving lower). The market is still looking for a break.