Trade77; USDJPY Daily Triangle Setup 7am

Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.

Price is still in a tight range between 82.00 and 83.50 and despite of that, sentiment is still bullish and upward pressure on this pair is very big. Price has finally made a low at 80.23 and now is trading blow 83.00 level.

We have got a daily symmetrical triangle which you can see in the chart below:

And I expect a break of the upper bond will occur soon and price could sharply go up and reach around 89.00 level in the next weeks. 83.00 is a short term resistant now and also after break of this level watch important 84.50 as the next resistant level.

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Kindest Regards

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