USDJPY has been travelling in a symmetrical triangle, it has not broken so long term we are uncertain on direction of price but short term, 1h - 4h , price has been travelling in an ascending channel, it has touched the bottom and failed to close below it on the daily and it had a clear bounce from the buying region at the bottom of the channel.
If it breaks to the upside my targets lie at the top of the symmetrical and if price breaks to the downside my targets are at the bottom of the triangle.
If it breaks to the upside my targets lie at the top of the symmetrical and if price breaks to the downside my targets are at the bottom of the triangle.
Comment:
Price broke its ascending channel to the downside, and is making its way down to the trendline outlined on the chart