USD/JPY Technical Highlights:
- USD/JPY readying itself for transfer to 140
- Watch worth motion carefully for indicators of a significant breakout
USD/JPY appears poised to interrupt out above the 13939 stage and check, if not outright break above the 140 stage. The hourly chart has a pleasant ascending wedge forming after breaking out of a symmetrical triangle on Friday.
Ought to we see the 140 stage right here shortly we are going to need to pay shut consideration to how worth behaves. The expectation is that we’ll at the very least check this stage, maybe exceed it by slightly earlier than probably failing. Nevertheless, if USD/JPY blows by way of 140 prefer it did 120 then we might see a lot greater ranges. Seeking to the left on the weekly/month-to-month chart there isn’t something till the 1998 excessive at 147.
For the total set of particulars please watch the video above…
USD/JPY Weekly Chart
USD/JPY Hourly Chart
USD/JPY Charts by TradingView
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—Written by Paul Robinson, Market Analyst
You possibly can comply with Paul on Twitter at @PaulRobinsonFX
