USD/JPY - Long - Falling Wedge Breakout Gaining Momentum

Long

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

OANDA:USDJPY U.S. Dollar / Japanese Yen

supportandresistance fibonacci beyondta usdjpy long tradewar

We still see USD/JPY rising as it passed through 106 on the back of positive news regarding the US/China trade war as China advised they would not immediately retaliate to US tariffs. Therefore we expect the currency pair to keep rising towards 107 and pass through the resistance level at 106.858 in the near term.

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