Looking at the USDJPY
chart we had a nice channel that lasted for approximately two days following a sharp down trend and then we saw a break out of that channel to the down side. These channels represent price levels at which lots of traders are willing to do business. If these price levels are revisited we should expect to similar move in price direction. The trade we put on last week in the USDJPY
supported this idea and we hope to see it occur again on the AUDNZD
pair. Thanks for looking and please share your thoughts!