USDJPY: Trading Plan For Next Week

FX:USDJPY   U.S. Dollar / Japanese Yen

hey traders,

after a very good long trade that we have taken this week, it is time to adjust our trading plan.

Next week I will be paying close attention to a  rising wedge  pattern that can be easily identified on 1h and 4h charts.
On Friday the market has closed approaching a support line of the  wedge  .
Most likely buyers will push the market higher from this point setting a new higher high higher close within the  wedge  .

On my focus will be a wide supply area 108.2 - 108.5.
Selling orders will accumulate in this zone and there will be a high chance to see a selloff.

Our confirmation signal will be a  bearish  violation of a  rising wedge  .
Target levels will be 107.9 and 107.5

Stop will be above the highest point of the  wedge  .

Good luck!

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