USDJPY: Preparing to Breakout!!!
Updated
USDJPY is trading within a descending triangle formation on a daily.
the price keeps setting lower highs respecting the same horizontal support with equal lows.
descending triangle is a bearish pattern.
today we may see a breakout attempt of its support.
in case of a daily candle close below, bearish continuation will continue
goals:
104.74
104.2
also, be focused on the reaction of the market to the yellow support,
we may catch a pullback trade there on lower timeframes in case if we have a solid confirmation.
Trade closed: target reached
Check my new analysis on EURCAD!!!
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