Wizard

USDJPY- UP our DOWN ?

FX:USDJPY   U.S. Dollar/Japanese Yen
Technical Analysis

PART: bearish
1. This pair has been wedging down.
2. It has also been in a downward channel.
This downward channel certainly can break the horizontal channel.
3. 101.34 resistance level has been broken several times.
4. What else is bearish?
PART:bullish
1. Horizontal channel has been broken to the downside but has always come back.
2.Last time it was wedging it was wedging in a triangle and broke up(but the wedging wasn't to the downside though), now it is wedging and it could also break up.
3. What else is bullish?

PART:X
It is always useful to take a look at weekly chart and other JPY pair's weekly charts, to see the long term resistances trend violations etc.
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