#USDJPY blind guess on support
Updated
Hello all,
We see this pair is having a difficult time breaching the earlier support it rallied from. Combined with the wicks we are seeing, this looks promising.
On the chart a nice clean falling wedge is in development as well, therefor we advice to enter the trade with enough space to get out if the resistance of the wedge holds.
Once this resistance breaks, we can see a retest of the high before any further drop. The real drop might be triggered after testing the weekly resistance trendline once again.
Good luck
We see this pair is having a difficult time breaching the earlier support it rallied from. Combined with the wicks we are seeing, this looks promising.
On the chart a nice clean falling wedge is in development as well, therefor we advice to enter the trade with enough space to get out if the resistance of the wedge holds.
Once this resistance breaks, we can see a retest of the high before any further drop. The real drop might be triggered after testing the weekly resistance trendline once again.
Good luck
Note
We missed this one, but the overall view remains valid:
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