FX:USDJPY   U.S. Dollar/Japanese Yen
Dollar-yen is on an amazing ride, fueled by the destructive policies set forth by the Bank of Japan. Nevertheless, the run-up since Oct             . 31 has seen its share of pullbacks; and, if price action closes below the wedge ascending support, the pair will likely test minor support levels at 117.75 and 117. However, it would be constructive for dollar-yen to pullback at test the 23.6% retracement level from the Halloween uptrend in order to test lower support levels.

Once lower supports are tested, USDJPY             could easily push through resistance just over 119.

In the more bullish sense, wedge support could hold on a stronger dollar. Trading into the apex of the wedge could uncoil price action to 120.

Related Ideas

CommoditiesTrader
USDJPY
CommoditiesTrader about USDJPY 2 2 years ago
Pair breaks lower through support. Downside targets in play
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out