? USD/JPY Breaks 110 Resistance but in Rising Wedge Pattern ?
June 7, 2018
2 min read
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Hi traders,
The USD/JPY uptrend could be losing steam as its building a rising wedge chart pattern. The support and resistance trend lines remain a key factor.
USD/JPY
4 hour
A bearish breakout will probably complete the wave W and start a wave X correction whereas a bullish bounce could price move higher within the bullish channel.
1 hour
The USD/JPY broke above the 110 resistance trend line which is now being used as potential support. The 110 level could be a key bounce or break spot.
Good trading,
Chris Svorcik
Elite CurrenSea
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