USD/JPY: Triangle Breakout Likely

2023.12.06 12:13

Bearish:  We are currently @ 147.06 breaking a flag pattern (bearish) in a channel and in a range. We are looking for a continuation to the ATR target @ 146.18 with the further target  the 0.618 Fibo @ 146.07-0 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 132 pips per day and it’s 103 day average is 101 pips per day. USDX is stalled.

USDJPY – triangle breakout

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