USD/JPY Follow Through Pushes Lower

"Is the USD/JPY downtrend slowing?"  This was the question we looked at previously on the Continuation Channel Down chart pattern.  To recap, two proposed scenarios could've occurred off the downtrend resistance line near the 89.00 level:

 

1)    If prices reached this level with the downtrend intact, the trigger would have been a short.

2)    If prices broke higher through the resistance of the pattern and psychological level, a reversal would have been triggered.

 

And the scene that played out was...

 

Daily Research Image11252009 52605 pm.png

  • 26 November |
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