USDJPY - Wedge formation highlights a bearish bias
USDJPY - Intraday - We look to Sell at 109.30 (stop at 109.60)
Posted a Bearish Outside candle on the Daily chart. We are trading close to the end of an ascending Ending Wedge Formation. Trend line support is located at 108.69. The formation has a measured move target of 106.50. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
Our profit targets will be 106.50 and 106.30
Resistance: 109.30 / 109.65 / 110.00
Support: 108.68 / 107.20 / 106.48
Posted a Bearish Outside candle on the Daily chart. We are trading close to the end of an ascending Ending Wedge Formation. Trend line support is located at 108.69. The formation has a measured move target of 106.50. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
Our profit targets will be 106.50 and 106.30
Resistance: 109.30 / 109.65 / 110.00
Support: 108.68 / 107.20 / 106.48
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