USD JPY formed a bullish Pennant pattern

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General outlook

USDJPY has been trading in a bullish trend for the last couple of hours. Now, the price displays the Pennant pattern.

If the price rebounds from the lower border or confirms a breakout of the upper border of the Pennant pattern, analysts recommend opening a Buy order.

The upcoming news will not influence your orders within the mentioned period.

Some traders may close their positions on Friday, which can add more pressure to the market.