ForexCryptoA
Long

USDJPY aint goin to fall

OANDA:USDJPY   U.S. Dollar / Japanese Yen
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here is the structure
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The USD / JPY currency pair has been working on a rising wedge over the past approximately six weeks, moving closer to a trendline that has been flattening since 2015. Yesterday the pair broke out of the wedge and is currently trading above the 2015 trendline.

While the price is above the long-term trendline on a daily basis, a week-end above the trendline could do much to provide additional conviction over the three-year period. In a full breakthrough, USD / JPY should move towards the middle 114.00 / 115.00 JPY range. The preferred approach is to pay attention to dip opportunities

A return inside and below the bottom of the wedge and the trendline from the March low will negate the bullish outburst and potentially bring a strong downward move in the face of the false outbreak. Given the current strength, a low probability.
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