ChaosTrader63
Long

USD vs JPY Ascending Triangle

FX:USDJPY   U.S. Dollar / Japanese Yen
258 1 0
The USD vs JPY on the daily time frame shows the pair in an ascending triangle pattern which normally is a continuation pattern. The pair has been in an uptrend 8 straight months starting in October 2012 until the past 3 months of a minor retracement of 38.2 on the monthly time frame. If the pair breaks the trend line upwards I am expecting the move to 103.700 for a double top . At 103.700 we will also be faced with the Monthly Kumo flat top which will act as resistance and the pair has attempted to break through the Kumo once already. The outlook for the USD vs JPY is looking pretty bearish .
Traders I am sorry but I meant to call this a symmetrical triangle pattern and not an ascending triangle. Sorry! Outlook still the same and I re published the chart. Thanks and have a great and blessed trading day!
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out