U.S. Dollar / Japanese YenEducation
USDJPY
Further to my analysis on 21 Feb. since the price close inside the monthly wedge, the breakout was a false breakout. The next support for the price could be around 106.78, since it is a pivot for the pair since June 25th of the last year. Since the false breakouts produced aggressive move in the opposite direction, 106.78 could be a temporary stop and the pair might trend toward the bottom of the wedge, somewhere between 106.00 and 105.50.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.