USD/JPY : Possible Falling Wedge or is it False?
USDJPY has been a in bearish market just like audjpy and just as such it also has had a recent bull rally that provided confluence to breakout the possible falling wedge resistant zone and also have candle closes outside however it could also be false due to the lower trend zone caused by the sudden drop in price which created a trend zone inside wedge where it looks like it has retested off what be the top of that zone.
Makes sense as price action is overbought currently so i can see a strong pullback after market open so that it can level out price action on indicators before the FOMC pushes it back up and out of the wedge and trend.
Makes sense as price action is overbought currently so i can see a strong pullback after market open so that it can level out price action on indicators before the FOMC pushes it back up and out of the wedge and trend.
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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.