Our USDJPY technical update yesterday looked at a triangle consolidation setup on the H4 chart (see fig 2 for the chart update). We noted that this price action formation had formed as the dollar/yen pair oscillated around the 100.00 handle round number area. This was also seen on the daily chart as an inside day just under the key 100.00 level. Further to our last update, there has been a continuation play in-line with the longer term prevailing bullish trend. Price broke above the descending trend line earlier today and has seen little in the way of a retrace thus far. Any corrective move lower now has the 100.00 ... (full story)