Long-term descending triangle forming on USD/JPY

١٢ فبراير ٢٠٢٠

Since kicking off 2017, USD/JPY has been bust carving out a descending triangle pattern. The breakout for this pattern is more common to the downside, but an upward breakout is considered more reliable and profitable.

Outside of the current configuration, a resistance area is visible at 121.36/124.23, while lower on the curve we have a support area at 98.83/101.42.