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USD/JPY short idea with good risk:reward

Short
U.S. Dollar / Japanese Yen (FX_IDC:USDJPY)  
Trader_Troy  
FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
EURUSD Gold WTI Oil cable GBPUSD S&P 500 (SPX500) short dollar Fibonacci
3
0
eurusd gold wti oil cable gbpusd spx500 short dollar fibonacci
USD/JPY has been capped at the 61.8% Fibonacci retracement after a nice rally and now stands in this ascending channel. This pair has been making lower highs and lower lows so is in a technical downtrend, alongside trading in this descending channel. If prices break this channel I will go short and target the monthly support at 111.50.

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