USD/JPY In Tight Triangle Pattern, These Are Break Out/Down Targets For Forex Traders
After studying the chart of the Dollar vs. Yen (USD//JPY), it becomes clear it is trading in a triangle pattern that is near breaking. The big question is, in which direction will it break? Considering the carry trade, a breakout or breakdown could have serious consequences for the stock market. If the USD/JPY breaks down, it will likely head to 94.75. If the USD/JPY breaks out, it will likely head to 107.15.
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