USD/JPY Price Analysis: Could be coiling ahead of a significant breakout – by fx_ross USDJPY Technical Analysis
pattern that would expect to see some testing of the boundaries before a decisive breakout one way or the other. however, in this case, this is an ascending triangle in a downtrend, a continuation pattern. Therefore, the bias is to the downside, especially given that the price is now on the backside of the prior dominant trend. What we might see, is some pre-breakout mitigation of the price imbalances as illustrated below.
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