USDJPY has been travelling in an ascending channel ever since the large drop on all the fx pairs. At the moment , price is at the bottom of the channel and also the 0.618 retracement level of the previous wave upwards. ALL signs are indicating a move up to the TP which is -.027 extension level.
IF PRICE HITS STL , PRICE WILL MOST LIKELY FOLLOW THE RED LINE.
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CLOSE TRADE NOW WHILE ITS IN PROFIT, PRICE BROKE OUT OF THE CHANNEL TO THE DOWNSIDE. CLOSE THE TRADE NOW IN PROFIT BEFORE IT DROPS.
PRICE WILL FOLLOW THE RED LINE, IT WILL RETEST THE CHANNEL AND THEN DROP