Signal_Centre

USDJPY - Selling at the top of the channel

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
Trade Idea

Trading within a Bearish Channel formation.
Bespoke resistance is located at 108.10.
There is scope for mild buying at the open but gains should be limited.
Preferred trade is to sell into rallies.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 108.20, resulting in improved risk/reward.

We look to Sell at 108.20
Stop: 108.50
Target 1: 107.10
Target 2: 106.50
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