USD/JPY has formed a Channel Up pattern on the 1H chart. The pattern has 51% quality and 63% magnitude in the 190-bar period. The pattern began on 4th of January when the pair peaked to 88.41; currently it is trading at 89.93. Trading volume seems to be increasing in the length of the pattern. Technical indicators on aggregate point at appreciation of the pair on 1H and 1D horizons suggesting it will continue moving towards pattern’s resistance and following pattern’s, upward sloping, trend.