USDJPY is one of the popular Forex-Pair for trading. USDJPY is showing near term bearishness. as we are seeing that it's trading on it's all time high also has been rejected once with high volume volatility. once break we will be having a nice approx R:R :: 1:3 trade. Near future i am expecting a bearish market once it break to downside. all levels are marked on the chart.
Reason:
In rising wedge pattern which is mostly bearish.
once break to downside Price < VWAP.
RSI is already in 40-60 means mostly sideways.
if it breaks will be a breakout of 2 month consolidation in Rising wedge.
Verdict: Bearishness is expected in upcoming week.