We will be looking for a rejection here at the top end of our channel to allow us to start looking for shorting opportunities on lower time frames.
Price long term is still massively bearish and we are anticipating some JPY strength coming into the market soon that should pull this down. We do want to see the market reject this here and rather than pick out the tops we want to see structure change for us on lower time frames to give us confidence to enter on this pair.
Let me know in the comments below what you think of this pair.
@Fxtrader9901, you think so man? JPY itself is at the lows and i don't see it breaking. Nothing is a certainty in trading though so will be good to see how it plays out!
Thanks for your comment buddy!
TheFxChartist_
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Seems to be moving to me. Thanks for your analysis thought.