5/01/2008 – USD/JPY – Within the context of the long-term downtrend channel (with its dotted line channel extension) on the USD/JPY daily chart, as shown, price action has been marked by consistent breakdowns of short-term, intra-channel uptrends (represented on the chart by the green lines). The current short-term uptrend may be no different. Technical traders are waiting to act upon any clean and fast breakdown of this intra-channel trend, which is well-defined and rather steep. Oscillators like the displayed Stochastics are supporting this possibility of a bearish break, as price is emerging down from severely ... (full story)