bruzzese1

USDJPY in a wedge, could pop very soon

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
7
I believe this pair will make a move soon as the wedge gets narrower between the blue and red lines. I think we are in a corrective structure from the sharp drop in late april and will make another large down move soon.

Divergence on MACD
0.786 Fib retracement

Waiting for a break of the red or blue line to go either long or short, but as I said, I favor the downside. Thanks, Good Luck!
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.