USDJPY [1DC] Can 110.00 be the next target before hitting 101?

USDJPY

It seems USDJPY has entered a new bearish channel started in November 2017. There was a consolidation on the bottom of the current broken triangle. USDJPY was pushed higher to break the downtrend line that was created on January 2018, which is being retested at the moment and getting ready to have a major correction to hit 110.00 before it drops back to 101.00

We already have a breakout on RSI which is retesting the broken channel.

Regards,

Kommentar:

Doing well, guess now we are going down again...

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This is a very important level to watch.

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The new weekly candle will determine the end of this wave. Selling from current prices isnt a bad idea ONLY for long term traders who use a wide SL.

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heading south! Wait for a retracement to get in short