ChaosTrader63
Long

USD vs JPY Re Symmetrical Triangle pattern

FX:USDJPY   U.S. Dollar/Japanese Yen
351 4 1
The USD vs JPY on the daily time frame shows the pair in an symmetrical triangle pattern which normally is a continuation pattern. The pair has been in an uptrend 8 straight months starting in October 2012 until the past 3 months of a minor retracement of 38.2 on the monthly time frame. If the pair breaks the trend line upwards I am expecting the move to 103.700 for a double top . At 103.300 we will also be faced with the Monthly Kumo flat top which will act as resistance and the pair has attempted to break through the Kumo once already. The outlook for the USD vs JPY is looking pretty bearish .
Well the rally is little bit in a consolidation mode and will remain until next week I think!
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Chartreader AncientM
This pair surprised me...PA did not worked this time!
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Take time but will reach the target....
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I have to note that I am expecting the break of the triangle but then a retracement before the move upwards!
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