USDJPY has been forming a descending triangle over the last
6 months since posting the 105.480 YTD high (Jan 2). Wedenesday’s break below
last 9-day triangle support suggests bearish continuation from the 102.810
high to retest 101.605. Below would open 101.425 ahead of 100.815. On the upside, only a break above the 102.15 area near the triangle upper bounds would stabilize and shift the focus to 102.810.
Sell zone: 101.80-95
Stop area: 102.10-20
Targets: 101.42, 101.25. 100.85
USDJPY 240 minute chart
USDJPY daily chart
USDJPY weekly chart
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