USDJPY completed a leading diagonal pattern on Nov 6th which lasted over 7 months. Current price action is consolidating in a triangle pattern which appears nearly complete and ready to break to the upside.
My target price is around the 1.0655 level, the termination of wave (iv) of the leading diagonal . Invalidation is 1.0317. At current price the risk/reward ratio of this trade is 3/1.
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