USDJPY Triangle

U.S. Dollar/Japanese Yen FX:USDJPY


This is a view of USDJPY on a weekly basis, which appears to be in a descending triangle formation , which commenced in August 2016.

The 4th wave (D) may reach completion around the 104 handle. So price in next few weeks has further to go to the downside.

Momentum indicators are showing a bullish divergence .

From 104 , I am looking for price to show rejection at this level , before a move back towards the 200 MAV at 110 , to complete the 5th wave (E).

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