USDJPY Breakout

USDJPY has been in a bearish channel since the start of 2016. Now finding itself with a tightening of the channel due to a strong level of support from the 100.000 price level. If the bearish momentum continues there could be a breakout under the 100.000 price level. If 100.000 continues to act as strong support, there could be a potential bullish breakout.

The fundamental factors to look out for is the FOMC and BOJ meeting on Wednesday 21st September. These two events could cause a breakout to the upside or downside.