USDJPY drops another leg down

٣ يوليو ٢٠١٥

This channel is currently holding up nearing today's market close. For those looking for an optimized trade, I would actually leave any short entries to Monday's open. Given the current selling, we can expect a gap up as traders are looking to cover. Once the gap up occurs, I would be looking to enter short once again at the much better price. Pair continues to remain bearish as long as it is in this downward channel. Finally, price crises below the moving average giving us another reason to remain bearish.