USD:JPY – Daily. Triangle Set Up

USD:JPY has formed into an ascending triangle pattern. The standard approach to a triangle is to enter on in the direction of a confirmed break out of the triangle pattern.

At this stage the market is flirting with a break through resistance at the top. If you follow a dual time frame strategy, the stochastics on the weekly chart are trending up confirming prospects for a buy trade at present

If we get a set up, I’ll post some strategy notes

You can follow us on Twitter at RicCharts and DaveCharts

Cheers

Ric

About Ric Spooner

Over 30 years market experience - professional trader, broker, director
This entry was posted in Forex, Market, Trading. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s