jefftan
Long

USDJPY : UPWARD BIAS WITH POSSIBLE 10.17 REWARDS POTENTIAL

FX:USDJPY   U.S. Dollar/Japanese Yen
392 1 2
The purple lines are constructs of the inside median line method with the uppermost line formed from the multi-pivot line( MPL             ) with multiple touches. Essentially price is heading towards the triangular congestion area(depicted in pink). The bias is towards a breakout upwards as it is squeezed into the corner of this triangle.

A break above the MPL             will jettison prices towards U-MLH. Of course a break below the ML will signify a breakdown in the uptrend but that chance of that happening is less than 50%. Still, the market will do what it wants to do and we have to wait and see.
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