USDJPY can start to fall and break support line of wedge
Hello traders, I want share with you my opinion about Japanese Yen. Watching the graph, we can see how the Japanese Yen formed the buyer zone128.10-128.45, from which it begin to move upwards and broke through the resistance level 132.90. After the breakdown of the resistance level, the price continue to rise and eventually formed an upward wedge. Currently, the price is trades inside the upward wedge below the resistance line. We see how the price tested the resistance line and begin to decline. The Japanese yen may continue to decline and breakthrough the support level 136.85 and support line of wedge. I think that after a possible breakdown support of the wedge, the price may start to go down, so I set goals at support level 136.85, support area 135.80-135.40. Please share this idea with your friends and click Boost 🚀
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Disclaimer
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.