USDJPY: Key Level & Your Plan to Short
USDJPY reached a year's high.
Being a major key level, we will try to catch a pullback from that.
111.6 - 111.8 is our potential reversal zone.
The confirmation that we are looking for is a bearish violation of a rising parallel channel on 2H time frame.
That will be a trigger for you to short.
First support will be 110.84
In case of a bullish breakout of the underlined structure on a daily,
the setup will be invalid and further bullish continuation will be expected.