Oh Yen pt 2

The last time I was looking for a breakout long trade on this pair that I got stopped out on for a decent profit but not the macro play that was planned. The pair has remained in a tight consolidating pattern forming either a descending triangle or a bull flag. The likely breakout is to the north but the monthly chart shows that there is no trend. Patience and confirmation are key.

Price is the best indicator you can use, learn to read that first. Any indicator is just giving you a small piece of information about the story price is telling you.