USDJPY approaching a triangle inflection point on the 1hr chart.
Notes:
USDJPY in an upward trend since mid Jan.
USD is fundamentally Bullish. JPY is Neutral/ Bearish.
109.74-109.84 zone is strong resistance structure with both a Down Trend and Horizontal Trend confluence. Two rejections since 26th March.
Action:
Alerts set on both sides
Awaiting price action to confirm direction of the break out.
Will seek; Candle to close outside of the triangle and a retest of support/ resistance before entry
USDJPY in an upward trend since mid Jan.
USD is fundamentally Bullish. JPY is Neutral/ Bearish.
109.74-109.84 zone is strong resistance structure with both a Down Trend and Horizontal Trend confluence. Two rejections since 26th March.
Action:
Alerts set on both sides
Awaiting price action to confirm direction of the break out.
Will seek; Candle to close outside of the triangle and a retest of support/ resistance before entry