USDJPY: Symmetrical triangle formation on daily data?
Looks like a 3rd valley may be forming to complete a valid symmetrical triangle on USD/JPY daily data. Seen as a continuation pattern, once this pattern completes it will likely follow the previous trend (which was an uptrend prior to the pattern commencement, also supported by the current SMA200 direction).
It will be interesting to see if it breaks the triangle formation after the 3rd valley has formed (if you believe the hype around the 'magic #3').
It will be interesting to see if it breaks the triangle formation after the 3rd valley has formed (if you believe the hype around the 'magic #3').