There is an opportunity to long the USD|JPY on the touch of the lower rising channel support line.
- Long entries should be initiated on touch. - Stop Losses should be below the last swing low of corrective 108.741 (Red Horizontal) - Target Point A: 109.383 (Green Horizontal) followed by Target Point B: 109.893
All remaining target resistance points are marked above 109.383 by consecutive horizontal lines (blue.)
We definitely didn't see the channel. And we're bearish on the USDJPY.
Let us know your thoughts?