USDJPY Price Analysis: Bears eye a breakout of the daily coil – by fx_ross USDJPY Technical Analysis
USDJPY is meeting fresh dynamic support and is coiled into a bearish continuation triangle on the daily chart. Being on the back side of the prior trendlines is bearish. The bulls need to get above horizontal resistances while the bears are seeking a break of support outside of the coil. The 16-min charts show the price sticking to a tight consolidation which potential means a breakout is imminent.
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