Fxtoronto

Falling wedge or getting ready for more upward action!

FX:USDJPY   U.S. Dollar/Japanese Yen
30 0 1
As we can see usdjpy             has been forming a triangle which looks like its gonna go down however as we know its always been very risky to go short with usdjpy             in the recent Past. It might just be a retracement for further movement upwards as we can see on the weekly chart that price could only retrace upto 382 and since it was a shallow retracement a move upto 1.618 could be expected which would also take the price to previous supply on a weekly
Looking over to the daily chart we might just have an ab=cd depending on what the price does taking it to the 0.618 of the bigger price action
I wouldnt wanna go short on usdjpy             ever so i would just wanna sit on the side and see how it plays out
we can expect a move upwards back to the 136 in the near future
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