The U.S. Dollar has been oscillating in an upward channel against the Japanese Yen for the last three-days, as exhibited by the 30-minute chart featured below. It appears as though the pair has a chance of dropping by another 10 pips to reach support. At this point, traders may want to to go long on an upward bounce. Contrarily, they may also look for a candle close below support as an indication of a bearish-reversal.
