Dear traders! USD/JPY remained on the weak side during the Asian session on Monday, weakened by recent cautious comments from BoJ policymakers and a broadly depreciated US dollar. The pair did not benefit from the modestly upbeat market mood as thin trading limited movement.
In terms of medium and long term, I am personally still optimistic about the prospect of price increases when UJ has escaped the symmetrical triangle. According to statistics the strongest volatility is after a breakout, it is expected that if the upward momentum continues from the upper boundary of the rising wedge around 154.20 then the local high of 158.50 will be tested again with the aim of breaking rupture and strengthen further.
In terms of medium and long term, I am personally still optimistic about the prospect of price increases when UJ has escaped the symmetrical triangle. According to statistics the strongest volatility is after a breakout, it is expected that if the upward momentum continues from the upper boundary of the rising wedge around 154.20 then the local high of 158.50 will be tested again with the aim of breaking rupture and strengthen further.
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