USDJPY Downward Channel (Step Down) April 12, 2017, Friday

Observation:
Price moves in a Downward Channel.
Bears is in control.
No sign of bull candlestick pattern.
Price near dynamic support.

Analysis:
If price breaks dynamic support of downward channel, there is high probability for price to slide down, short.
If price retrace at dynamic support & imitate previous move, LONG & TP at middle dynamic resistance.

Conclusion:
High opportunity for both LONG and SHORT.

تعليق:

Price did not respect previous doji which should be a sign of reversal.
Price would probably drop on Monday and play at the (red box).

تعليق:

106.701

تعليق:

But price still have a strong Ace card, the dynamic support of downward channel.
Price have probability of bounce there at it's current price.
Need to watch on Monday for more signal confirmation.