The USDJPY H4 chart (fig 3) is currently showing a triangle consolidation pattern. This has formed as price oscillates around the 100.00 handle round number area. As is often the case, this triangle pattern can be seen on the daily chart as an inside day. This candle has not yet closed, but looks set to finish the trading session as an inside day just under the key 100.00 level. We will be monitoring the price action around this descending trend line for a continuation play inline with the prevailing trend. (full story)