USD/JPY is showing no signs of ending the bull trend that started back in Nov 2011.
The pair completed a 5 months Ascending triangle pattern by breaking above 122, implying a target of 127.50
Etf traders can capitalize on this trade by shorting FXY.
Since the breakout of a 3 months Double bottom pattern last year, Frontline (FRO) has been supported on multiple occasions by the 200 MA (orange line).
FRO is currently in the process of charting a 4 months Head and shoulder continuation pattern BUT needs to close above 3.15. Accordingly the target would be $4
On Monday Fedex (FDX) broke out of a 6 months descending triangle formation and pulled back to exactly the breakout point yesterday. This provides an attractive entry point with a stop loss at 174.99.
The implied target is $193.