EURJPY Descending Channel

Updated
I've been waiting for a short on EURJPY for a long time and believe it is happening now. Descending parallel channel + rejection = nice short. XXXJPY pairs are all going to drop soon which adds to the multiple confluence. Related ideas below. Although already in the trade, it could pull back to entry price again, providing another opportunity.
Trade active
Comment
Accidently added to comments section but it's here now too.

Daily View:
snapshot
Weekly View:
snapshot
Comment
TP extended to another monthly level due to current market movement. RR = 6.64
snapshot
Trade closed: target reached
Trade closed at the original TP. +4.12 RR
EURJPYeurjpyshortSupply and DemandTrend AnalysisTrend Lines

Related publications

Disclaimer