I have shorted the USDJPY
as we appear over extended as we moved from the lower red channel up to the higher green channel with no real correction over a month long period. We are starting to see bearish
Heikenashi candles appear as the MACD
has crossed down. My profit target is 2700 pips as we enter the blue medium. My stop loss is 400 pips if we start to turn bullish
, provided we are this over extended with no real retraces at this time. The overall down trend indicates down.