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Bchap
Jul 6, 2017 8:36 PM

USDJPY Small Triangle on Upper Trendline of Large D1 Wedge 

USD/JPYOANDA

Description

A small neutral triangle has formed on the upper trendline of a much larger wedge that can be seen here on the D1 Chart:


If the smaller triangle breaks to the upside, the entire wedge might break with a large move in that direction. If the Upper trendline holds, look short to the bottom of the shape.

Lastly stay mindful of Non-Farm Payroll data that will be released on Friday at 12:30 UTC (Black vertical line on chart)
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