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USDJPY: bounce off support up to structure

Lång
USA-dollar/Japansk yen (FX_IDC:USDJPY)  
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FX_IDC:USDJPY   USA-dollar/Japansk yen
USDJPY yen japan support Support and Resistance Falling Wedge breakout range tramline Fundamental Analysis Technical Analysis longsetup buy
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usdjpy yen japan support supportandresistance fallingwedge breakout range tramline fundamental technicalanalysis longsetup buy
After the severe appreciation of the YEN we are likely to see it bounce back, especially given that there is a level of support in the form of a falling wedge.

I think that it is likely to bounce up to the structural level of resistance as indicated by the horizontal black line.

I see no fundamental reason for a prolonged period of USD strengthening against the YEN.
Kommentera:
This trade is still on for a long if it breaks above the resistance line of the wedge.
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