USDJPY still respecing long term triangle resistance.

I you look at the blue solid line the USDJPY has broken higher, but if you take a longer term view of the triangle spanning from early 2015 you would see the dotted trend line comes in at the 110.25 level which was the recent highs last week. This needs to break in order for the pair to turn bullish in my view. Near term, if the USDJPY breaks back below the 109.70 level, those who recently went long the pair may be close to being stopped out.