Long setup; be ready to short a breakout.
Updated
USDJPYSafe TP Zone: 111.00
Risky TP Zone: 111.40
SL: 108.30
I'm staring at a descending wedge from an uptrend, a downward median line with both a faithful 50% Fibo retracement and a minor support line being tested - which signals at the very least a decent retest - and CCI on the uptrend.
Call me crazy, but I'd go long for now.
Ride the wave for a bit, and prepare to sell a potential breakout based on the median line.
Note
Who caught about 40 pips this morning? Let's stay within the triangle until the big move.
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