USDJPY: Analysis & Trading Plan

hey traders,

usdjpy is currently consolidating on a key support level 108.5.

on a daily this horizontal support matches perfectly with rising support of a parallel channel .
on 4H the pair has formed a descending triangle formation.

to identify a further market direction be focused on an occasional breakout of a triangle.
bearish breakout will trigger selling reaction and with high probability, we will see a continuation downwards to 108.0