The 1H USD/JPY chart shows a market that has been consolidating since it fell after the FOMC meeting minutes showed more urgency to consider QE3, which slapped the USD across the board. In the previous USD/JPY update, I noted that it was holding above a rising trendline, which has held price action throughout August (seen more clearly in the 4H chart).The US Dollar – Japanese Yen pair consolidated into a flag pattern above this rising trendline.Then the 8/28 Asian session saw a slide and breakout below this flag pattern. As we start 8/28 US trading, we observe a pullback, and a rejection – price action that confirms ... (full story)