Sustained downward movement can be seen on the hourly USD/JPY chart which shows the Down Channel chat pattern identified by Autochartist. The Quality of this chart pattern is rated at the 3 bar level which reflects low values of the Initial Trend and the Uniformity indicators (both measured at the 2 bar level) as well as the above-average Clarity (measured at the 6 bar level). This Down Channel continues the prevailing downtrend affecting the pair and best seen on the weekly charts. The price has recently reversed sharply down from the combined resistance made out of the round price level 85.50, the 50% Fibonacci ... (full story)