mql5

W1 price is located to be above yearly Central Pivot at 114.36 and below R1 Pivot at 127.96:

• The price is on bullish ranging between pivot level at 114.36 and R1 level at 127.96;
• The price is breaking descending triangle pattern with 120.24 support to below for the local downtrend as the secondary correction to be started;
• If weekly price will break R1 Pivot at 127.96 so the primary bullish market condition will be continuing up to R2 Pivot value as the new top in this situation, otherwise the price will be ranging within yearly Central Pivot and yearly R1.

Instrument	S1 Pivot	Yearly PP	R1 Pivot
USD/JPY	106.88	114.36	127.96