USD/JPY is approaching a resistance line of a Falling Wedge. It has touched this line numerous times in the last 12 days.

Either a rebound or a breakout imminent on USD/JPY
USD/JPY is trapped in a Falling Wedge formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a support line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 147.7096 is expected in the short term.

Want to get full Autochartist Access including the Autochartist Market Scanner for MetaTrader, Market Report Emails,
Autochartist Mobile App, and the full Autochartist Web App?

Subscribe here: ChartViper Subscriptions
Join us on Telegram