Bullish breakout upon us?
U.S. Dollar/Japanese Yen FX:USDJPY
This pair has been ranging for weeks now, but recent price action has created a triangle formation with price grinding along resistance.
I expect a bullish breakout, targeting fib extensions 127% and 168.1%.
Supporting criteria:
- 10, 20 and 50EMAs sloping upwards
- ADX sloping upwards and above 20
- RSI barely overbought