Trader_Troy

USD/JPY short idea with good risk:reward

Short
FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
USD/JPY has been capped at the 61.8% Fibonacci retracement after a nice rally and now stands in this ascending channel . This pair has been making lower highs and lower lows so is in a technical downtrend, alongside trading in this descending channel . If prices break this channel I will go short and target the monthly support at 111.50.