BenzingaDrew

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USDJPY: USD/JPY Confirms Downtrend 5 Days after Brexit
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USDJPY, D Short
USD/JPY Confirms Downtrend 5 Days after Brexit

On Thursday, USD/JPY bounced off of the first lower Bollinger Band (1st standard deviation) confirming downtrend after recovery from Brexit. Provides an opportunity to join the downtrend. Over last month, USD/JPY has been in downtrend channel between 1st and 2nd standard deviation lower bollinger bands, and may continue in that channel for an extended period of time.

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