3/26/2008 – USD/JPY – At least two technical factors are hinting at a further impending bearish move in the key USD/JPY daily chart, as shown. First, and perhaps most importantly, after the pair broke down below the bottom line of the long-term parallel downtrend channel (which began about a year ago) price retraced back up to the line and then dropped back down again within the last couple of days. This can be seen as a classic breakdown-pullback-continuation formation. Of course, this pattern would not be complete without a breakdown below the last low at around the 95.75 region. The second technical factor ... (full story)