As we can see, USDJPY
is in a falling wedge
pattern. This usually results with the pair breaking though to the upside. From what I can see, this pair has been pushing upwards with strong momentum on the daily timeframe
, suggesting we could be seeing a break to the upside either this week or the start of next. If a pullback does occur, I’ll definitely be jumping in. But be careful! Make sure it’s actually a pullback and not a continuation to the downside. If it doesn’t look clear, either wait for the break of the wedge
or the retest.