There is a Symmetrical Triangle Pattern emerging on
USDJPY
H1 chart. This could really go either way with a break of the upper or lower trend line.
The Base of the triangle measure 82 pips, so once a trader decides their bias, a market order could be entered on a break of either the upper or lower trend lines with the target 82 pips from entry.
As of writing these target would be:
BULLISH TARGET
113.040 or 82 pips from entry
BEARISH TARGET
111.386 or 82 pips from entry
I will be watching this chart over the next few sessions.
Published 10/12/17
USDJPY
H1 chart. This could really go either way with a break of the upper or lower trend line. The Base of the triangle measure 82 pips, so once a trader decides their bias, a market order could be entered on a break of either the upper or lower trend lines with the target 82 pips from entry.
As of writing these target would be:
BULLISH TARGET
113.040 or 82 pips from entry
BEARISH TARGET
111.386 or 82 pips from entry
I will be watching this chart over the next few sessions.
Published 10/12/17