USD/JPY: yen is preparing a wedge

USD/JPY: yen is preparing a wedge

Recommendation: SELL 109.8 SL 110.35 TP1 108.8 TP2 108 TP3 107.2

On the daily chart of USD/JPY, the inability of bulls to conquer resistance at 111 points at their weakness. Bears have the initiative now. Sellers want to test the lower border of the uptrend channel and support at 109.8. If they succeed, the risks of a “bat” pattern will increase.

USDJPY1.png 

On H1 of USD/JPY, bears have a chance to trigger the “Widening wedge” pattern. To do that, they will need to pull the pair below the lower border of an uptrend channel and move it closer to support at 109.40. 

USDJPY2.png

jpy

Similar

How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

Latest news

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera