Looks like it’s headed sideways today… Not much to work with…
Hi,
of course it depends how you look at the market and your strategy.
A ranging or sideways market can be a great place to start our pip hunting. Periods of consolidation such as this give us ample warning that price will at some stage breakout of this pattern so be ready to act.
Triangle patterns are normally continuation patterns, that’s to say that the price normally goes in the direction of the trend. Today it has reversed, not so common but it happens.
These few days were not USDJPY days. It is stuck in a narrow range. If it breaks 84.00, 83.00 will be another barrier. For the upside, 86.00 is the roof.