Sasha Singh
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USDJPY : Waiting For A Triangle Breakout

USDJPY is just preparing itself for a breakout and consolidating between the trends lines of a symmetrical triangle. The pair could breakout in any direction, however the bias is towards the downward direction due to the weak Consumer Confidence data released yesterday. The 50 day SMA has just crossed the 100 day SMA to move in the downward direction giving a signal of a trend reversal.