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cheminacci

USDJPY Making Plans To Leave Descending Channel

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
cheminacci Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
USD USDJPY dollaryen trend Parallel Channel breakout Bearish Patterns h4 4h SELL structure cheminacci
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usd usdjpy dollaryen trend parallelchannel breakout bearish h4 4h sell structure cheminacci
USDJPY has formed and been trading within this descending channel over the last couple of weeks. After a failed retest of the 114.00 levels, it looks as if USDJPY is on it's way down. Prepare for a retest of the lows at 110.667, as well as a potential bearish break out. Market expected to head toward 110.00, 105.00, and eventually 101.00
Comment:
The weekly channel has been broken.
Trade active:
Target 1 hit at 110.00
Comment:
Looks as this is still continuing on it's way down
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