USDJPY 31-10-2023 .
The current prices are trading near the lower boundary of the ascending channel. If the area of the first support zone confirms a downward break within the range of 148.75 it could lead to an acceleration in a downward move. It’s worth noting that the upper channel boundary aligns with a significant resistance zone at around 150.50. As a result, prices may face selling pressure in this area, which could slower the upward momentum. The expectation is that selling pressure will persist until prices successfully break above this resistance zone.