The USD/JPY currency pair is forming a symmetrical/isometric triangle on the weekly chart, and moving down to the daily, we can see that price has made a major push to the downside already, and and is consolidating and forming a smaller symmetrical triangle too, as i believe it is getting ready to continue with its bearish momentum before it gets to the support zone formed by the weekly symmetrical triangle pattern.
My forecast would be to sell upon the breakout of the triangle pattern on the daily timeframe, which will be quite explosive considering how the price is constricting, probably due to a reduction in the volume of orders.
My forecast would be to sell upon the breakout of the triangle pattern on the daily timeframe, which will be quite explosive considering how the price is constricting, probably due to a reduction in the volume of orders.
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