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
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out