USD/JPY is Trading in a Descending Triangle
By Deya Hroob
This trade is based on 4h chart.
USD/JPY is forming a descending triangle. Most of the time the price will eventually break the support line and continue to fall, but who knows maybe the opposite will happen.
You just need a breakout above the upper line or down the support line and act accordingly.
In this case, we would place entry orders above the upper line with target 109.30 and below the support line with target 106.
This trade is based on 4h chart.
USD/JPY is forming a descending triangle. Most of the time the price will eventually break the support line and continue to fall, but who knows maybe the opposite will happen.
You just need a breakout above the upper line or down the support line and act accordingly.
In this case, we would place entry orders above the upper line with target 109.30 and below the support line with target 106.
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