EverythingForex

USDJPY Quick Update: Possible Trend Continuation Triangle

FX:USDJPY   U.S. Dollar/Japanese Yen
780 2 20
This is a quick update on this pair off of my Daily Update post yesterday. Just want to make you all aware that there is a POSSIBLE trend continuation triangle forming.

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Comment: the continuation triangle I talked about last week completed and prices took off from there. I just closed my LONG position and pocketed the profits. Not because I don't think it is going any higher but because there's no guarantee it will. In any case, should see a retrace back down soon before there is any move higher. I'll wait and see what happens and enjoy my profits while I'm at it. Never be greedy!

snapshot
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You picked it chief
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i think it consolidates first in the 4th wave to 108.50, than later on June 3rd maybe it goes up for that 5th wave :)
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