USDJPY: The Pair May Drop! Here is Why 🇺🇸🇯🇵

Short

U.S. Dollar / Japanese Yen (OANDA:USDJPY)

Updated

OANDA:USDJPY U.S. Dollar / Japanese Yen

Supply and Demand Candlestick Analysis Parallel Channel USDJPY yen japaneseyen priceaction priceactionanalysis priceactiontrading priceactionstrategy

supplyanddemand candlestick parallelchannel usdjpy yen japaneseyen priceaction priceactionanalysis priceactiontrading priceactionstrategy

snapshot

Even though USDJPY is trading in a bullish trend, the pair did not manage to break a previous high 116.35 and
set an equal high instead.

Then the market broke and closed below a support line of a rising channel.

It looks like the pair may drop at least to 114.25 level with a potential continuation to 113.6.

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