Aurum Markets Blog Technical Analysis USDJPY approaching support of a Falling Wedge

USDJPY approaching support of a Falling Wedge

USDJPY approaching support of a Falling Wedge post thumbnail image

A Falling Wedge pattern was identified on USDJPY at 143.5505, creating an expectation that it may move to the support line at 143.1548. It may break through that line and continue the bearish trend or it may reverse from that line.

Supported by Downward sloping Moving Average

Target: 143.1548 Entry: 143.5505 Stop: 144.1835

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