UJ has been in a relatively tight channel for the last few weeks on the daily chart and 4 hour chart, when looking at both the 200 EMA and the 1000 Weighted MA these actually split this regression channel right in the middle. Leading up to all the news Japan has tonight (7/20/17) any big shift in monetary policy will be the sword to free this currency pair from the squeeze its been in.
Note
A bigger picture of both moving averages and their importance to a shift in momentum. Last time we saw a setup like this was back in 2005 and continued for 6 years totally close to 4000 pips down. Note
Likewise an opposite shift and an insight of the squeeze we have been experiencing. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.