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U.S. Dollar / Japanese Yen
Short

USDJPY: Potential Trading Opportunity

By VasilyTrader
Updated
snapshot

USDJPY reached a resistance line of a major falling wedge pattern on a daily.

Now it is a very decisional moment for the pair.
The reaction to the resistance will show the future direction of the market.

I still remain bearish biased and focused on a completed descending triangle formation.
104.14 is its support.
I want to see 1H candle close below that to confirm its breakout.

Then short trade can be initiated with initial goal 103.85.

In case of a daily candle close above the resistance line of the wedge,
setup will be invalid and bias will change to bullish.

Please, support this idea with like! thank you!
Trade closed: target reached
Check my new trade on AUDUSD!
AUDUSD: Channel Retest Short
Chart PatternsdollarjapaneseyenjpyTechnical AnalysisTriangleUSDUSDJPYDJ FXCM IndexWedgeyen
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