USDJPY: Sell opportunity within the 1D Channel Down.

The pair completely reversed the strong uptrend that started at the beginning of 2019 and after breaking the 110.30 Support, 1D is on the first stages of developing a Channel Down (RSI = 41.381, MACD = -0.140, Highs/Lows = -0.3943, B/BP = -0.7700). The inner bearish channel (dashed lines) may provide a steady pace towards a new low, but even in the event of a slight upside break out to 110.800, the expected Lower Low (and our TP) is 109.275.


See our previous short trade within the 1W Channel Up that broke and gave way to the current Channel Down described above:







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