One of the pairs that have been without a clear direction for the longest time is USDJPY. In the chart we see that for the second month we have lower peaks and higher bottoms. This is one of the most famous and reliable figures - a triangle. Such triangles develop at almost all periods. From monthly to 30m.
However, if we open the weekly and monthly chart , then there we can see that this is part of a larger triangle.
Why do we pay attention to these triangles now? This week will be key! We are expecting news on Wednesday about the Fed's interest rate decision. A few hours later, there is a decision by BoJ.
We are also entering a pre-election battle in the USA and the season of JPY movements.
Where USDJPY will go will probably become clear this week!