Home USD/JPY technical analysis: Prices moves higher with rising wedge formation
FXStreet News

USD/JPY technical analysis: Prices moves higher with rising wedge formation

FX Street
Published date:
  • USD/JPY pushes higher in line with equities and risk assets.
  • The rising wedge formation is being well respected and we are nearing the top.

USD/JPY Daily Chart

USD/JPY is pushing higher as a strong bout of risk sentiment enters the market. Stocks are pushing to all-time highs and safe-haven assets are falling.

The rising wedge formation on the chart is being well respected and the price is nearing the top of the chart structure.

Above the patter is another resistance level at 109.75. This level was used at support back in March (22nd) and often previous support can become resistance.

If the price moved beyond the chart pattern it will become an accelerated move and the pattern top could then become support.

USD/JPY analysis

Additional Levels

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2025