USDJPY: Important Support test. Still long term bearish.

The 4H Channel Down has currently made a pause (RSI = 47.316, ADX = 16.901, Highs/Lows = 0.0000) as the price hit and rebounded exactly on the Higher Low trendline (since February). So far it is contained within the 4H Channel Down so the balance of power is very tight and on the short term highly volatile (0.2179 < ATR < 0.3750 from 4H to 1D). On the long term we still expect a bearish break out (after the 1W Resistance rejection) and a completion of the 1W Inverse Head and Shoulders pattern. TP = 110.800 with 110.325 as a possible extension as previously:




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