The Japanese Yen Index broke out of a bearish pennant pattern, - to the upside.
The 61.8% does look like a sell area, only IF $JPX act accordingly.
My max lock profit target for this move is at the 50% fib retracement.
One pip lower than the support of the actual Triangle puts me at a complete bearish sentiment. I’d be concervative enough to stay out of a...
Major Falling Wedge + Potential Ascending Triangle + Cup and Handle pattern.
Wave 3-5 in the Ascending Triangle are forming what "could be" a Cup and Handle pattern. The pattern is valid only if the price breaks and close above the resistance.
Will trade this based on the rules.
Trail stopping and scaling in.