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USDJPY Preparing for Breakout

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USDJPY Breakout | Forex Strategies

USDJPY breakout on the 60min in consolidating in the shape of a Descending Triangle. These patterns tend to cause large breakout moves in the markets. I’ll be watching this pattern and will be waiting for a Break & Close out of the pattern to give me direction. As of right now I have no idea which direction it will break, so I will not involve myself until I get my signal. Also we are at a Major Support Level in the market. I love finding these patterns at higher time frame structure levels.

USDJPY Breakout

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Andrew Pial

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