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USDJPY Weekly forecast 19/08 - 23/08

OANDA:USDJPY   U.S. Dollar / Japanese Yen
OANDA:USDJPY

USDJPY weekly outlook -

Long term bearish trend with some short term bull momentum following wedge breakout. Is there a potential for an inverted head and shoulders pattern? Not putting all eggs in one basket on that plan but could happen.

Rising trend line heading to key resistance above means we are waiting at this level for price to test and give us opportunities. JPY has shown some strong bear legs down but could be about to role reverse to buying opportunities. We are still below the moving average which could continue and form an additional level of resistance.

We wait for early next week.
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