Analysis of the USD / JPY Prices: Offer Close to 107.80 with the Breaking of the Triangle Descending at 4H

The USD / JPY flashes green near 107.80 at the time of the press, with an offer of the US dollar in the middle of a new tone of risk reduction on the stock markets. The currency pair could further increase as the 4-hour chart now signals a break in the descending triangle, including trend lines connecting the lower vertices and the horizontal supports. The diagram indicates recovery from the March 9 low of 101.18 and suggests a margin for a move above 108.00. Alternatively, a move below 106.92, the base of the triangle, would indicate an extension of the pullback from the March 25 high of 111.68 and could drop to 105.00. The outlook for a bearish break below 106.92 would improve if the pair fell below 107.30, validating the red candle on Friday.