FX:USDJPY   U.S. Dollar/Japanese Yen
22 2 0
Looking at wedges/triangles etc. This looks like a breakout is on the cards. At this moment in time, I am at the stage of recognising this, but would not confidently provide an indication as to what direction I would predict.

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DavidMoss
USD/JPY
DavidMoss about USDJPY a year ago
DavidMoss
a year ago
There is the double top to consider, although the second peak is a lower high. There are also the thin legs of liquidity which are likely to be filled at some stage. So I would lean towards sell. I have drawn fibonnaci's to look for a draw down in to those legs of thin liquidity. The other way to trade this would be to look for a candlestick to close above or below the trendlines.
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DavidMoss
a year ago
The round numbers are placed on there as you usually see a rejections from such numbers,however in this case, price is hovering beneath, so any bear traders at those levels will likely be watching with concern and could move out of the market.
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