December 12th: Descending Channel

USD\JPY is in a strong descending channel at the daily chart. The channel was tested for 7 times and is considered a very reliable pattern.

Traders can take trades on the Resistance trendlines, after candlesticks confirm the entry. A target for this trade is the support trend line.

Short trade can be signaled when price breaks the channel downwards, or pulls back to the broken trendline.