Usd/Jpy Triangle, bearish breakout to come!

Three-wave structures are shown on a daily chart, with the trapped price action between 80.30 support and 84.00/40 resistance region for some time now.

We know that three-wave formations are corrective waves, and as such, the whole price structure since October 2010 must be a corrective pattern, that may finish soon.




Wave E, final leg of a pattern must complete somewhere below 83.96 region.

New lows should be seen in days/weeks ahead.

Guest post by Gregor Horvat.