The attached daily chart is showing a nice little triangle formation as denoted by the light blue lines contained within a larger pennant formation. This looks pretty bullish when you view it on a weekly chart.
Given the USDJPY move we have seen today, albeit being helped along by a resignation of Japan’s Finance Minister, i think we could see a move above 1.2550 tonight when the US come back in all rested after a long weekend. The break of 1.2550 should initially see 1.2770 bt i think we will push higher and retest the 1.3000 level in the coming two months.
