The Yen has been clearly in a powerball run for the last few months and this has become the defacto safe haven currency lead.
Here I've drawn a nice channel, which is confirmed by multiple touch points (minimum of 3 ideally) on both trendlines and this has shown the structure of price as it continues downwards. Both oscillators show that there is some more room to go and I wouldn't be surprised if USDJPY decided to head for the mid 90's.
For more information, either follow me on here or sign up at www.ejfxtrading.com for trade setups and information relating to the markets
Here I've drawn a nice channel, which is confirmed by multiple touch points (minimum of 3 ideally) on both trendlines and this has shown the structure of price as it continues downwards. Both oscillators show that there is some more room to go and I wouldn't be surprised if USDJPY decided to head for the mid 90's.
For more information, either follow me on here or sign up at www.ejfxtrading.com for trade setups and information relating to the markets
