hpis44
Long

USDJPY H4 long setup

FX:USDJPY   U.S. Dollar/Japanese Yen
Dollar Yen is still trending to the upside and seems to be supported by a rising trendline so far (marked green)
Beleiving the trend is not yet exhausted completly I think a long setup is worth as drawn on the chart. Stoploss is set exactly at 30.June low. Target here is the near term resistance line around 123.90 - 124.10.

From the other side it starts being obvious that a bearish triangle pattern started forming within the abovementioned resistance line and the medium term support line. This is suggesting that $/Yen starts reaching a medium term top and a bigger decline from around 124.00/20 can be expected later on.
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