USDJPY – movement inside big triangle pattern

Since February 26 USDJPY is moving in side trend between levels 112.30 – 114.40. It has to be noted that volatility is decreasing and at time-frame H4 triangle pattern occurred. Currently lower limit of the triangle should be found at 112.60 and upper limit at 114.30. After breaking one of indicated levels, dynamic movement is expected.

However, we should be careful – currency pairs with Japanese yen like to have first breakout fakey (false breakout). Nearest supports: 113.30, 112.30, 111.10, nearest resistances: 114.40, 116.00.

Time-frame H1

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Time-frame H4