USD\JPY is in a strong descending channel at the daily chart. The channel was tested for 7 times and is considered a very reliable pattern.
Trading:
Traders can take trades on the Resistance trendlines, after candlesticks confirm the entry. A target for this trade is the support trend line.
Short trade can be signaled when price breaks the channel downwards, or pulls back to the broken trendline.
Read more FOREX analysis:
http://www.chartsecret.com/
Trading:
Traders can take trades on the Resistance trendlines, after candlesticks confirm the entry. A target for this trade is the support trend line.
Short trade can be signaled when price breaks the channel downwards, or pulls back to the broken trendline.
Read more FOREX analysis:
http://www.chartsecret.com/
