2014 was a nightmare for the Japanese Yen because has depreciated against the US Dollar with more than 2000 pips. The Yen has grown in the beginning of the year and now the question is: this corrective movement is at the end or the Yen will continue to appreciate?
The price is trading near a support area, so the price can grow again with target at the descending trendline and maybe will also reach the median line (ML), if this scenario will take shape, then we can have a symmetrical triangle.
We’ll have a clear direction for medium and long term once the price will break this pattern.
Most likely that we’ll have an indecision and the price will move in range, in case that the Japanese Yen will increase further, the correction will continue with target at the 76.4 retracement level.