USDJPY - Bullish Falling Wedge - Breakout

Long

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

OANDA:USDJPY U.S. Dollar / Japanese Yen

supportandresistance fibonacci beyondta usdjpy long bullishfallingwedge fed payrolls

We still see USDJPY moving higher after it has broken above the 106.8 resistance level mainly we believe on the back of an easing of tensions in the US/China trade war. However, there could be a significant amount of price action post payrolls and average hourly earnings as weak data could indicate a higher probability of FED rate cuts.

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.