Hello fellow traders,
Technical point of view:
USD/JPY seems to be struggled to pass-over the 115.xxx handle again, but constantly met its rejection at around 114.7xx level. By losing that 114.7xx handle, USD/JPY has been forming its lower highs at 113.7xx recently and did make a swing low from that peak to 112.000. That whole swing ups and downs in a...
As some released news from the U.S. have been announced not as expected for a smoothing corporate tax cuts, hence the greenback lost its strength to push up USD/JPY to the 115.xx handle, and it is now struggling around its supply zone from 113.1xx-113.9xx. According to our technical point of view, that pair is currently trading in its corrective wave and a B leg...
Looking at the USDJPY 1 hour chart , we can see the pair have formed a Bearish wedge pattern with divergence . The top of the wedge also happens to be the edge of an expanding wedge pattern on the Daily chart .
