Daily chart,
USDJPY
USDJPY price is forming a falling expanding wedge pattern. After clear crossing of the line R, and stabilizing above it for 2 days, the target will be 165.5
Note that there are resistance levels on the way, especially the strong historical High (at 161.95)!
Stop loss below 145 - Consider a rising stop loss level as the price goes up.
Technical indicators:
RSI is positive
MACD is about to cross its signal line.
USDJPY
USDJPY price is forming a falling expanding wedge pattern. After clear crossing of the line R, and stabilizing above it for 2 days, the target will be 165.5Note that there are resistance levels on the way, especially the strong historical High (at 161.95)!
Stop loss below 145 - Consider a rising stop loss level as the price goes up.
Technical indicators:
RSI is positive
MACD is about to cross its signal line.
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