Nick Nasad
All posts from Nick Nasad
Nick Nasad in Nick Nasad,

USD/JPY - Yen Triangle Continues to Coil.. Which Way for Breakout?

Looking at the USD/JPY pair from a weekly time-frame, it continues to consolidate within a triangle/pennant pattern. 

  • The tighter it coils, the larger the chance that when it picks a direction (either up or down) the move may be sharp.
  • Is this a period of distribution followed by a downswing?
  • Or, is the pair ready to continue the trend started in late 2012/early 2013, which would make the most recent patter a sign of re-accumulation?

- Nick