USDJPY can begin to decline and break support line of wedge

Short

U.S. Dollar / Japanese Yen (FX:USDJPY)

FX:USDJPY U.S. Dollar / Japanese Yen

trendanalysis chartpattern wedgepattern usdjpy usdjpyshort technicalanalysis

Hello traders, I want share with you my opinion about USDJPY . When observing the graph, we can see how the Japanese Yen formed an upward wedge and traded inside. You can also see how the price has retested the resistance area and bounced back. The Japanese Yen is now trades below the resistance area and can start moving down and break through the support line of wedge . I think that after a possible breakdown of the support line, the price can continue to fall and exit the wedge . Based on this analysis, I set 2 goals at level 134.50, which coincide with the support line and support level 133.65. Please share this idea with your friends and click Boost 🚀

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