USD/JPY: Trend Dictates the Entry
The USD/JPY has formed a symmetrical triangle pattern on the 30-minute chart. Prices have been trading within a range that has squeezed into the consolidation pattern. Certain patterns, such as triangles, are unique because they are "self limiting" - meaning that if prices were to do nothing but continue to move sideways, they would eventually break the boundaries of the pattern due to the ever-narrowing range created by the trend lines.
Source : communications@autochartist.com (Communications)
2 March
