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dvdubrovsky

USD/JPY Trades Within a Falling Wedge, Watch for a Yen Breakout

U.S. Dollar / Japanese Yen (FX_IDC:USDJPY)  
dvdubrovsky  
FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
Wedge Trend Lines Support and Resistance USDJPY yen japaneseyen DJ FXCM Index Falling Wedge
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wedgepattern trendline supportandresistance usdjpy yen japaneseyen usdollar fallingwedge
On the 4-hour chart, USD/JPY seems biased to the downside after prices broke under rising support from April.

Resuming the downtrend entails taking out the 109.16 109.03 support zone.

However, prices seem to be brewing a bullish Falling Wedge chart pattern.

A breakout above the pattern may open the door to resuming the dominant uptrend.

USDJPY
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