In my previous post on this pair (see Related Ideas: "USDJPY: Contracting Triangle Done? What's Next? Wave 5 Down?") and on the chart, I had noted that I would SELL upon a break of the triangle pattern and on the break of the B point line. Prices have broken through both points. But I will be waiting to SELL on a retrace and retest of the triangle's lower TL. Prices may very well keep dropping in a wave 1 but if I am correct and this is a wave 1 of wave (5) decline, then there is soon to be a wave 2 retrace which I would anticipate will retest the triangle pattern.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.