USD/JPY: 4-hour
Is that a breakout I’m seeing USD/JPY’s 4-hour forex chart? The pair has been consolidating inside a descending triangle since April this year and it appears that it finally picked a direction. Price might pull back to the triangle resistance before heading any higher though, as stochastic is moving down from the overbought zone. A retest of the 101.50 minor psychological level might take place and, if that holds as support, USD/JPY might be in for a 300-pip rally.
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