A Channel of 190 pips has created at the USD\JPY pair. A very precise channel - as it was tested by price for 6 times at both Support and Resistance. Last touch at Support was at 94.0 which is also a round number and a strong support level by itself.
This variation of the Ascending Channel can also be interpreted as a Flag - which even empowers our short trades as Flag is a continuation pattern that indicates continuation of the downtrend.
Trading
