FXY (Japanese Yen Trust ETP) looks poised to rally on a breakout above both this descending price channel (yellow lines) and the white downtrend line. Horizontal lines mark potential price targets. FXY, YCL (2x long Yen) or possibly a YCS (2x short Yen) may be added as official trade ideas soon. Until then, I just wanted to pass this setup along for any currency traders that might be interested.
FXY daily July 8th