USD/JPY: Rising Wedge Breakout Opportunity
Scott Barkley | Dec 07, 2022 08:45AM ET
Bearish: USD/JPY is currently at 136.92 in a trend, and a 5th wave start. If we can break the support here, we are looking for a continuation to the ATR target at 135.25 with a further target the 0.786 Fibo at the 134.54 area.
We have convergence on the hourly. The target up is 139.00 if it reverses. Watch the USDX for any change in direction. The ATR for the pair currently is 188 pips per day, and its 180-day average is 183 pips per day. USDX is currently down.
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