FollowMyTrades

USD/JPY Long then reversal

Long
FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
USDJPY has finally broken the ascending triangle/wedge formation. First reistance is at 121.600. If it breaks this level the next resistancewill be the decending trend line from 1990 at around 123.000. The final resistance will be 124.00 from mid 2007. I suspect a push towards these levels before a strong push back towards 118.

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.