USD JPY Monthly Chart
USD JPY Monthly Chart

Key to understanding any Forex market analysis is to completely understand the trends on the bigger time frame. From the chart of USD JPY above, we observe USD JPY ranging between key trend lines (both lower and upper trend lines) are being respected for over four (4) years running.

These trends are coming to an end though, prompting the market to test both the down trends and up trends, and yet rejected to play within the existing trend lines.

This promises to be an exciting pair to trade when it breaks out of both lower and upper trend lines.