USD/JPY: 4-hour
If you’re not into retracements, you might want to take a look at this forex chart pattern instead. USD/JPY has formed lower highs and found support at the 116.00 major psychological level, creating a descending triangle pattern on its 4-hour forex chart. The pair is currently testing the top of the formation and may be due for another move lower, possibly until the triangle support. Stochastic still seems to be heading north, which suggests that buyers have enough energy to push for more gains and trigger an upside breakout.
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