Forex Trading Idea: Short term small range trades with resistance at 120.27 and support at 119.
Technical Analysis: The dollar – Yen pair continues to range inside a triangle with substantially lower volatility as the pair approaches the end of the triangle, which could be a sign of a massive breakout. With few economic data out of Japan, the pair’s movements is mostly driven by Ms. USA which has been showing strengths beginning of this week.
So for a longer term trading idea you gotta wait for a breakout.
Where to set your stops and limits: