Forex Technical Analysis: Trend potential – Sell USDJPY from the upper trendline towards 110.659.

USDJPY – Down

Sell USDJPY from the upper trendline towards 110.659.

Technical Obseravtion

The USDJPY is currently trading within a possible triangular formation. We’re have the resistance trendline as the diagonal and the level 110.659 as the base of the triangle. While the price remains above 110.659, I expect this pair to remain within this shape, and should the price break below the base, then I expect a bearish acceleration towards 110.271. And on the flip side, should the price breakout above the diagonal, then this will be an ideal place to look for a long term buy order towards 110.885.

Trade Recommendations:

Sell USDJPY from the upper trendline towards 110.659.

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