USDJPY Neutral: Waiting for break out, Weekly, Daily & 4hr
USDJPY Up or Down
Weekly:
• Last weeks candles attempted to break 110.00 but rejected and closed as a shooting star.
• Also rejected off moving average.
Daily:
• New high was formed at 110.16 which means updward trend.
• For 4 days price has been stuck in an area of consolidation.
• Moving averages supporting price with multiple rejections.
• Must be very patient with this pair.
4hr:
• Price is stuck in a triangle pattern, so I am expecting a huge break out.
• I do favour a strong downside move, but its best we wait for the break out.
