davidleekuanyong

USDJPY consolidating for a major trend ahead?

FX:USDJPY   U.S. Dollar / Japanese Yen
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USDJPY has been consolidating between the green and red trend lines for quite some time. The market is preparing for a major trend.

Here are the potential scenarios.

A break and close below the red trendline will spark a strong downtrend.

On the other hand, a break and close above the green trendline means USDJPY will resume it's strong uptrend.

As a trader, we have to plan our trade on a few potential scenarios and then executes it when the market shows its hand.
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