USD/JPY REST STOP
UJ has been bulling very hard as of lately. With the never ending rate hikes pushing up the price of the dollar, and many foregin countries defaulting on their national debts, it is midnight in lots of places but it seems Powell is still squuezing everything he can out of the dollar.
Technically speaking we see here a very nice looking rising wedge type pattern developing on the H4. although we are in a CLEAR UPTREND, UJ has seemingly overstepping its bounds and should need some type of rest stop before over taking this resistance, if it is to do so. There is a potential that the dollar could break through this very strong resistance level but my inclination is to sell this pair down to earth and prepare for it to push back upwards again.
Technically speaking we see here a very nice looking rising wedge type pattern developing on the H4. although we are in a CLEAR UPTREND, UJ has seemingly overstepping its bounds and should need some type of rest stop before over taking this resistance, if it is to do so. There is a potential that the dollar could break through this very strong resistance level but my inclination is to sell this pair down to earth and prepare for it to push back upwards again.
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