AvaTrade - Analytics

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    USD/JPY – In consolidation mode

    The USD/JPY pair has formed a symmetrical triangle pattern on a 4 hour time frame. These patterns are ranked towards the bottom of the list as they do not usually complete their projections or there is no clear evidence of them breaking in any particular direction. However, statistically, these patterns often break in the direction of the trend and on this time frame we have very much side way pattern.  The volatility is low as the price is trading within the Bollinger band and it is also trading near the 20 day moving average.

    The RSI indicator will give more indication once we break out of this consolidation pattern and for now there is not much clear signal from this.

    USDJPY 01-10-2015

    Important Zone

    121.73-121.44 Resistance

    116.17-115.84 Support


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