FX.co ★ USD/JPY

USDJPY yesterday’s trading kept the pair inside the triangle range from 162.00 to 162.40. The pair has completed the pattern formation and, to be honest, I expected a breakout to the upside with an impulse at least to the recent high of 162.80. Trend bulls are clearly pressing exactly on the northern edge of the triangle in line with the daily trend. The markets are not impressed by Katayama’s verbal interventions, and the upside breakout scenario is postponed to Monday.