The USD/JPY pair has been capped at a cluster of resistances at 104.33/77 and only above here would see a bullish “wedge” reversal established, analysts at Credit Suisse apprise. See – USD/JPY falters at the initial 104.34 resistance level – Commerzbank Key quotes “USD/JPY strength has been capped for now as expected at a cluster of major resistances, starting at its downtrend from last March at 104.33 and stretching up to the December high at 104.77. However, we remain of the view we may be witnessing the construction of a bullish falling ‘wedge’ reversal.” “Only above 104.77 would mark a more important reversal higher to open up a move to 105.68 next, then likely the 200-day average at 105.88, which we would expect to cap at first.” “Support moves to 103.49/39 initially, then 103.28. Below this latter level would now lessen thoughts of a “wedge” and instead, warn of a direct resumption of the downtrend back to the lows and trend support from last July at 102.59/48.” 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. View All Post By FX Street FXStreet News share Read Next EUR/USD appears offered and returns below 1.2200 FX Street 2 years The USD/JPY pair has been capped at a cluster of resistances at 104.33/77 and only above here would see a bullish “wedge” reversal established, analysts at Credit Suisse apprise. See – USD/JPY falters at the initial 104.34 resistance level – Commerzbank Key quotes “USD/JPY strength has been capped for now as expected at a cluster of major resistances, starting at its downtrend from last March at 104.33 and stretching up to the December high at 104.77. However, we remain of the view we may be witnessing the construction of a bullish falling ‘wedge’ reversal.” “Only above 104.77 would mark a more important… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.