LegionQ8

Japanese Yen has left wedge and can continue to move upwards

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
Hello traders, I want to share with you my opinion about Japanese Yen. Looking at the graph, we can see how the Japanese yen formed the seller zone 137.40-137.90, which it re-tested and began to decline. The price continued to decline, broke through the support level 131.65 and over time was created a downward wedge. After several failed attempts to break through support line of wedge, the price has risen to a resistance level that coincide with support line of wedge. We see that after a small correction, the price continued to rise, broke through the resistance line of wedge and level 131.65. Currently, the price is above the current support level, but can go down, and retest it. I think that price can continue to move up and break through resistance area. So I set targets for Japanese Yen in zone 132.65-133.00 and at resistance level 133.85. Please share this idea with your friends and click Boost 🚀
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