USD/JPY has broken through the support line of a Rising Wedge. It has touched this line at least twice in the last 16 days. This breakout indicates a potential move to 106.9250 within the next 3 days. Because we have seen it retrace from this positions in the past, one should wait for confirmation of the breakout before trading.
Did you know that our social media feeds are updated only 3x per day, and don’t look at short term movements?
If you open a live account with a broker that support Autochartist, you’ll get:Analysis as low as 15 minute data intervals Short term forecasts Risk and volatility information