LADEEc57

$USDJPY - Coiling Up for a Reversal ?

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
Price consolidation continues within the symmetrical triangle weekly time frame after failing to breakout above $114.00 double top pattern formation. A break below the 108.50 lows would signal such a move lower, targeting a retest of lower trend line triangle of $106.37 level. Alternatively, next weeks session, we may see a wedge formation pattern that could cause price action to reverse upwards. A breakout above $111.17 would probably indicate a rally to a target of $111.88 followed by a higher push to towards the double top failed peaks. Contributing to this upward reversal would be other factors like weakening prices of EURUSD             , $XAUUSD, $UKOIL . Take out the popcorn bowl, cause this will get interesting.
@LADEEc57 nice to see someone using the same candle colours :)
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LADEEc57 SN_Doumet
@SN_Doumet, LOL! There's something magical about those colors. PS, good analysis on ur USDJPY observation piece.
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SN_Doumet LADEEc57
@LADEEc57, hahah fully agree with you on that one, I suddenly feel more professional ;). Thanks a lot, appreciate it :)
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