FX.co ★ USD/JPY trapped within triangle

USD/JPY Undecided!

USD/JPY is trapped between the downtrend and the uptrend lines. Only a breakout through one of these lines may rally bring a clear direction. Escaping from this triangle formation could also bring great trading opportunities.

In the short term, it moves somehow sideways after failing to makes a new higher high or a new lower low.

USD/JPY Trading Conclusion!

Resuming its growth and passing above the downtrend line and above the 115.61 former high could confirm an upside continuaiton and could bring new buying opportunities.

On the other hand, stayng below the downtrend line and dropping below the uptrend line may announce potential drop towards 113.56 low.