(Please click on the accompanying chart to enlarge.)
As shown on the accompanying USD/JPY daily chart, price action on this key pair has formed a large triangle-type consolidation, much like the EUR/USD has been in recent days and weeks. There is a slight technical bias for an eventual downside break on the USD/JPY triangle. If this occurs with sufficient momentum to breakdown below the 95.80 level, price could further descend to the 94.50 region. A break to the upside, on the other hand, should meet initial resistance in the 98.50 region.
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Hi James,
Please comments on gbp, specialy euro’s today’s price action.
thanks.
Hi sir,
Glad to see you back and thanks for your analysis.
So, what you’re saying is if it doesn’t go down, it’ll go up. Well, that was helpful.
Hi Christina,
Thanks for your comment. If you notice, I did call for a downside bias, and gave potential technical levels. I would hope that might be helpful.
James
Wellcome Back M.r James .. Glad to have you back again
Thanks, Rona!