USDJPY : UPWARD BIAS WITH POSSIBLE 10.17 REWARDS POTENTIAL
The purple lines are constructs of the inside median line method with the uppermost line formed from the multi-pivot line(MPL) with multiple touches. Essentially price is heading towards the triangular congestion area(depicted in pink). The bias is towards a breakout upwards as it is squeezed into the corner of this triangle.
A break above the MPL will jettison prices towards U-MLH. Of course a break below the ML will signify a breakdown in the uptrend but that chance of that happening is less than 50%. Still, the market will do what it wants to do and we have to wait and see.
A break above the MPL will jettison prices towards U-MLH. Of course a break below the ML will signify a breakdown in the uptrend but that chance of that happening is less than 50%. Still, the market will do what it wants to do and we have to wait and see.