USDJPY Weekly Triangle
Observe the triangle on the weekly time frame. A break above would indicate a buy signal, a break below would indicate a sell signal. As this is on a higher timeframe, I do not see a breakout happening for the next few weeks. Currently I am in a buy position with a target around 108.90 . It is in this area that the 109 whole level (quarters theory) has seen highs.This would be around the next expected high of the triangle. This trade is somewhat risky as it is not trading the break of structure.
I would like to see a break to the upside to hit 2015 levels. The Bank of Japan is likely to cut rates, sending the pair to the upside. This type of trade would be a swing trade, so keep the lot size lower than normal, and set a 100-200 pip target
I would like to see a break to the upside to hit 2015 levels. The Bank of Japan is likely to cut rates, sending the pair to the upside. This type of trade would be a swing trade, so keep the lot size lower than normal, and set a 100-200 pip target
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