The USDJPY continues to look weak against the 106.00 area.
The wedge/triangle below is a structure I’ve discussed for months.
However, the tricky part about trading away from this structure is that USDJPY is only respecting it on a monthly closing basis.
In other words, it took a monthly close beyond the structure to confirm the breakout.
With that in mind, as long as USDJPY remains below the 106.00 region on a monthly closing basis, the 101.00 region is exposed.
The wedge/triangle below is a structure I’ve discussed for months.
However, the tricky part about trading away from this structure is that USDJPY is only respecting it on a monthly closing basis.
In other words, it took a monthly close beyond the structure to confirm the breakout.
With that in mind, as long as USDJPY remains below the 106.00 region on a monthly closing basis, the 101.00 region is exposed.