USD/JPY Thoughts
Observing this pair, here are some thoughts I had. I just want to be clear that I am not taking any moves right now on this pair unless one of these scenarios pans out.
-USD/JPY is in the middle of a downward long-term channel
-Support A is currently holding upward movement.
Scenario 1
Support A breaks, price moves toward Support B. Strong upward movement towards Resist B should follow.
Scenario 2
Support A holds, price moves upward. Should fall once Resist A is reached.
-USD/JPY is in the middle of a downward long-term channel
-Support A is currently holding upward movement.
Scenario 1
Support A breaks, price moves toward Support B. Strong upward movement towards Resist B should follow.
Scenario 2
Support A holds, price moves upward. Should fall once Resist A is reached.
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