The USD/JPY currency pair has revealed a symmetrical triangle pattern.
From a theoretical point of view, it is likely that the exchange rate could trade sideways within the predetermined pattern within a following trading session.
Meanwhile, note that the rate could gain support from the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 103.80/103.94 range. Thus, a breakout north could occur, and the pair could target the weekly R1 at 104.35.
