FX.co ★ USD/JPY analysis for December 12, 2019 - Symmetrical triangle pattern in creation, watch for the breakout to confirm further direction

USD/JPY has been trading sideways for days at the price of 108.60. Anyway, there is the symmetrical triangle pattern in creation, which is sign that very soon, we may expect the breakout and directional move.

To open long positions you will need:

USD/JPY would need to breakout the 108.85 in order to confirm potential test of 109.18 and 109.40.

To open short position:

USD/JPY would need to breakout the support at 108.46 in order to confirm test of 107.90

Watch for the breakout to confirm further direction...