USDJPY, Daily
In the Daily timeframe, USDJPY has formed a rising wedge pattern. The price bounced off the lower trend line and MA50. The Stochastic is out of oversold range and indicates a possible upside.
- We may consider buying USDJPY on consolidation above 156.300 with a target to 158.400;
Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.
Author: Egor Schmidt
