On the USDJPY daily chart, we can see that the pair is testing the long-term trendline and the rising wedge lower line 112 level. We had a couple of days of bounce from this level and we could see a swing upside to test the key upside resistance 112.700 level. For the upside continuation, we need to see a daily close above the 112.700 level. Invalidation and a rising wedge break in the case of a daily close below the 112 level.
Note: look for the long trade entries with a stop loss below the 112 level.
Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy and allows you to make position risk free. We are publishing daily and weekly analysis and 5-10 trade alerts per week directly on your mobile device via Private twitter feed and Private Telegram group! NOW! NEW! With some of our premium membership plans, you will have MT4 harmonic pattern recognition software and access to Premium formationseeker.com membership! Two Premium trading services for one price! Also, you will Tradingview Spectro screener and Spectro Indicator! Live trading consultations included with our Annual Premium membership plan.
