Salty

Possible Rising Wedge or Ascending Triangle

FX:GBPJPY   British Pound / Japanese Yen
80 0 0
Potential breakout is about to come, a bearish ABCD pattern has appeared, giving a hint of a possible new high around 157. If price hits that level, it is more likely that this strong trend will endure and triangle formation prevails with minor corrections. NFP data will certainly trigger the move.

Conversely if price to surpass more recent high of 156.60, a possible rising wedge will complete its formation. My decision is to place limit orders below and above the two lines. RSI - if we take most recent record high as a point of reference - is already showing a regular bearish divergence.
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