Thu, 05 Apr 2012 07:12:28 GMT
Emerging patterns: USD/JPY 1H chart: Triangle
USD/JPY was consolidating during last two days and formed a triangle pattern on a 1D chart. The formation has 73% quality along with 50% magnitude in a 34-bar period.The pair eased after it touched the resistance around 84.17 on March 15, and now is trading in 82.00 to 82.30 range. The formation would not last long, so traders may expect