Japanese Yen Potential Triangle Break
Prepared by Jamie Saettele
Risk for the bearish triangle scenario can be moved to 8329. A drop below 8024 would open up the door for a test of the all time low just below 80 (registered in 1995). If the USDJPY does break lower, then expect weakness into the mid 70s. 7619 is where a break would equal wave a of the triangle if measured from 8024 (in % terms).
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.