theselfishtrader

Impending breakout on USDJPY. Possible short forming?

FX:USDJPY   U.S. Dollar / Japanese Yen
There is decreasing volatility in this pair and a triangle is forming.

The Daily/Weekly timeframes are trending downwards and so I am leaning towards a bearish position.

I expect an attempt to breach 107, at which point I will be watching closely for a low risk short.

Happy trading!
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