Chart of the Day USDJPY

USDJPY is breaking the rising wedge

USDJPY is breaking below the rising wedge support line 108.700 level. This break is opening a possible downside continuation to 107.740. Now only a daily close above 109 again would invalidate the downside continuation. A long downside channel has also been formed and a rising wedge represents a perfect upside channel resistance line rejection.

ARMAT trading system is neutral

Note: look for the short trade entries with the stop loss above the 108.800 level

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