USDJPY Weekly Triangle
Hey guys,
The chart says it all, more or less. I have a larger pitchfork on the monthly chart,
price hit its median line @ 125.3xx and bounced off it. If we are destined to hit the
lower paralel line we will see 90 - 100. Breakout to the upside could mean 130 - 140.
I personally have bearish sentiment on the larger time frames and believe a move
towards 90 - 100 is more probable.
But first the weekly, as you see this is perfectly tradeable, draw your channels on the daily
and long/short the rejections.
The subtle striped blue lines represent the monthly medianline(upper line) and its parallel line(lower).
Goodluck
The chart says it all, more or less. I have a larger pitchfork on the monthly chart,
price hit its median line @ 125.3xx and bounced off it. If we are destined to hit the
lower paralel line we will see 90 - 100. Breakout to the upside could mean 130 - 140.
I personally have bearish sentiment on the larger time frames and believe a move
towards 90 - 100 is more probable.
But first the weekly, as you see this is perfectly tradeable, draw your channels on the daily
and long/short the rejections.
The subtle striped blue lines represent the monthly medianline(upper line) and its parallel line(lower).
Goodluck
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