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KQMarkets

USD/JPY - Long - Falling Wedge Potential Upside Breakout

Long
U.S. Dollar / Japanese Yen (OANDA:USDJPY)  
KQMarkets  
OANDA:USDJPY   U.S. Dollar / Japanese Yen
Beyond Technical Analysis Support and Resistance Fibonacci USDJPY LONG
4
0
beyondta supportandresistance fibonacci usdjpy long
We have been long USD/JPY for a while and believe there could be potential for an upside breakout due to the falling wedge pattern that has developed in the currency pair in recent times. This is particularly the case if equity markets recover from the recent sell off but we would not want to see USDJPY fall below the key support level at 104.28.
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