USDJPY has been forming this massive triangle for nearly 1650 days now.
The triangle's apex is 350 days away.
We have had 3 rejections and 4 support within the triangle. Pennants are usually a bullish sign but given the shape of this pennant I am leaning neutral.
I will be looking to see which way it will break out and trade accordingly. Usually, technical patterns like this break out a 30% before the apex. So, It should be sometime within the next 6 months we should see a major break out.
There is a clean 10% swing trade to pull. The direction is unclear yet, but it is worth keeping an eye on.
The triangle's apex is 350 days away.
We have had 3 rejections and 4 support within the triangle. Pennants are usually a bullish sign but given the shape of this pennant I am leaning neutral.
I will be looking to see which way it will break out and trade accordingly. Usually, technical patterns like this break out a 30% before the apex. So, It should be sometime within the next 6 months we should see a major break out.
There is a clean 10% swing trade to pull. The direction is unclear yet, but it is worth keeping an eye on.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Please visit Website for other indicators, bots and strategies hftresearch.com/
Follow us on Twitter: twitter.com/HFTResearch
Telegram: t.me/HFTResearchChat
Discord: discord.gg/K7w2WnQ
Follow us on Twitter: twitter.com/HFTResearch
Telegram: t.me/HFTResearchChat
Discord: discord.gg/K7w2WnQ
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.