USDJPY
~ In the past (2015) it made a huge rocketship until 124.00 yens, followed by a big melt straight to 100.00 yens. ~ As we can see, the trend is leading a blueprint of a clear simetrical triangle. ~ In these cases, it is more safe to enter positions at the top and bottom trend lines that surround the triangle.
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Zooming to the 4H chart we can notice a recent small bullish trend that reaches the las support, forming at this time a double top as resistance. Waiting for the breakout and bearish action it could fall to the 108.500 support.
~ In the past (2015) it made a huge rocketship until 124.00 yens, followed by a big melt straight to 100.00 yens. ~ As we can see, the trend is leading a blueprint of a clear simetrical triangle. ~ In these cases, it is more safe to enter positions at the top and bottom trend lines that surround the triangle.
.
Zooming to the 4H chart we can notice a recent small bullish trend that reaches the las support, forming at this time a double top as resistance. Waiting for the breakout and bearish action it could fall to the 108.500 support.