Usdjpy could drop by 200pips

On the daily time frame you see the market constantly testing a dynamic Trent line
We are currently at a weekly resistance level

Trading channel shows we are at the top of the band

There is also a wedge forming
That can be clearly see on the 1h to 4h time frame

Candles are resting very close to support level
Indicating possible breakout to the low

From point where the top of the channel was touched market has made lower lows

Possible bullish check mate at play.


I think there is a drop on the cards

Check first major support level for tp

And second for 200pip drop