USDJPY: Long term sell opportunity.

USDJPY is trading within a Channel Down since the start of 2017. So far it has made 3 clear Lower Highs and 2 Lower Lows. We are expecting on the long term to attempt the third Lower Low. So far the price is borderline neutral on the 1D chart (RSI = 45.445, MACD = -0.200, ADX = 32.097), a Death Cross is close to taking place (when the MA50 crosses below the MA200) and the obvious medium term target is the 104.500 Symmetrical Support.

The same Lower High pattern was followed successfully on our most recent long term trade on USDJPY:





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